Posted on: 03rd May, 2012 01:32 am
I just finished a short sale on my residence without missing any payment. My lender indicated that they will report it to the credit bureaus as a voluntary repossession. Does anyone know how this will affect my credit?
A short sale should be reported as a short sale. It shouldn't be reported as voluntary repossession. You should contact your lender and sort out the matter.
Hi Savannah,
Why would a lender report a short sale as a voluntary repossession? I don't think it would be legal!! You should contact the lender and ask them to report it as short sale and not voluntary repossession.
Thanks
Why would a lender report a short sale as a voluntary repossession? I don't think it would be legal!! You should contact the lender and ask them to report it as short sale and not voluntary repossession.
Thanks