credit score foreclosure short sale
Previously prefect credit and a short sale question?
My fiance has perfect top notch credit. Two years ago he bought a condo (already in foreclosure) for 284,000 . If he sells it with a shortsale how horrible will his credit score go down? Will it effect him real bad even though he already has a top of the line credit score or should he forget about ever having good credit again?
We live in Southern California by the beach, when do you think the prices will start going up again so we can avoid a shortsale??
Thank!!!! I sure wish I had a crystal ball 
what credit score do you need to even buy a house now a days?
If the condo is already in foreclosure, his credit has already been impacted.
I wouldn’t say “forget about ever having good credit again”. As long as he pays his bills/debts on time, his credit score will go back up after this condo fiasco. It will take time, but it certainly won’t be forever.
To get a mortgage you will need at least 700 credit score. FHA loan is 725.
Good luck!
