FLTA - What’s worse for credit score — foreclosure, short sale or deed in lieu?

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What’s worse for credit score — foreclosure, short sale or deed in lieu?

09/07/2012 2:03 PM | Anonymous

While not truly a "Government Affairs" Topic, it is a question I've long found interesting and on which I've gotten conflicting stories.

Bradley Graham, senior director of scores product management at FICO, was quoted as stating that there’s no significant difference in FICO score impact among foreclosures, short sales or deeds in lieu of foreclosure.

You can find more on this topic here, here and here.

It sometimes makes me wonder if we are doing our customers a service by facilitating their short-sales given the potential tax differences, especially where the deficiency is not being released.

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