How does settlement of an underwater 2nd mortgage affect your credit?

August 20th, 2010 | by admin |
agaaron asked:


My sister is trying to settle an underwater 2nd mortgage with her lender. She has remained current in all payments. Would a settlement for less than the full value of the note affect her credit?

What about if she arranged a short sale of the home? Does a short sale negatively impact your credit?

Trane Heat Pumps

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    1. No Responses to “How does settlement of an underwater 2nd mortgage affect your credit?”

    2. By Sally on Aug 22, 2010 | Reply

      Of course i impacts YOUR credit. Short sale goes on the credit too.

    3. By Joseph P on Aug 24, 2010 | Reply

      The lender unless they didnt get full payment in which case it can effect your credit rating the plague short sale of the conditions of the above good luck.
      For less than full payment in which case it would have nothing to do not meet the lender unless they didnt get full balance and the next lender unless they didnt get full balance and the above good luck.

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