How to Get Your Short Sale Removed

Short sales actually save lenders quite a bit of money over letting the loan foreclose, which makes the lender take possession, do the repairs and maintain the property before eventually selling it themselves. It's not uncommon to negotiate a good credit report with a bank or mortgage company while in the process of a short sale. Negotiations for a favorable credit score after the sale is completed remain an option for any who did not foresee their credit rating as an issue.

Instructions

1

Plan for your good credit report before arranging a short sale by making your lender agree to a favorable report as part of the deal for you to sell the property. You are saving the lender a considerable sum of money by selling the property even at a price below the loan value, which gives you some room to negotiate.

2

Ask for a letter from your lender stating their intention of reporting your credit after the sale. If you do not receive a letter agreeing to a report that sheds no negative light on your transaction, then send a letter demanding a favorable credit score as a condition of your sale of the home. This becomes your grounds to insist the report is fixed if you receive a less than favorable report on your credit score after selling.

3

Check the report on your credit after completing the short sale. The lender may have posted a "Paid and Settled" report, which is accurate after a short sale but does not look good on your credit rating. Contact the lender and ask for a report that does not subtract from your credit score, such as "unrated." Do not accept answers to this request stating that the company cannot change the report. Any credit report can be resubmitted, and someone at the company has the authority to do it.