Help?: Short Sales & seller's credit report

[T. Nicole Allen]

I have a client moving out of state.  My client won't be able to sell her home for her loan balance, as her current market area's average sale price is $60k-$80k lower than what she owes.  She's not behind on her mortgage but, she wants to sell it...as a Short Sale.  Her lender said they would consider it once an offer has been submitted for their review.  My question... Will this Short Sale still reflect on her credit report although she's not behind on her payments?  I've asked several resources and am not getting a straight "yes or no" answer.  Does anyone know the answer?

[Zac Brown]

It will affecte her but not as much as a foreclosure. It might be as little as 50 points. It should show up on her credit report as Paid Short or it can just show up as Paid. She should get this on the market ASAP. I guess my biggest question is why she is moving? Because to short sale it you need to have a hardship. Hope this helps. Take care.

If you want a more detailed answer on the affects of credit you can go to my website at www.zacbrownrealestate.com and get all the info you need. Take care.

[T. Nicole Allen]

It does help. Thank you

[Zac Brown]

Glad I can help. There is a lot of info on my website that is dedicated to short sale's. Will you be at the 5 star?

[T. Nicole Allen]

As much as I'd like to, I will be unable to go to the conference this year.