Become a Certified Credit Repair Processor (CCRP)


C.L.U.E. Report

When calling up an insurance company for coverage of auto and home, they usually will ask questions and pull up your C.L.U.E. report. You can order your free C.L.U.E. report once a year just like you can with your credit report, and if something turns up false you can challenge it. The website to go to in order to order your C.L.U.E. report is


How is a Short Sale Affects Credit Scores?

Fair Isaac released a report that says credit scores are affected about the same, whether a seller does a short sale or foreclosure. Fair Issac says the average points lost on a FICO score are as follows:

  • 30 days late: 40 to 110 points
  • 90 days late: 70 to 135 points
  • Foreclosure, short sale or deed-in-lieu: 85 to 160
  • Bankruptcy: 130 to 240

Foreclosure or Deed-in-Lieu of Foreclosure

Both of these solutions affect credit the same. Sellers will take a hit of 200 to 300 points, depending on overall condition of credit. This means if a seller’s FICO score before foreclosure was 680, it could dip as low as 380.

Short Sale

The effect of a short sale (providing the sellers are more than 59 days late) on a seller’s credit report is identical to that of a foreclosure. The ding on credit will show up as a pre-foreclosure in redemption status, which will result in a loss of 200 to 300 points. This means a short sale seller with a previous FICO of 720 could see it fall from 520 to 420.

error: Alert: Content is protected !!