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  • FIRST POST
    • CharlieR1008
    • By CharlieR1008 9th Oct 17, 9:46 PM
    • 7Posts
    • 1Thanks
    CharlieR1008
    Equity Shortfall Sale
    • #1
    • 9th Oct 17, 9:46 PM
    Equity Shortfall Sale 9th Oct 17 at 9:46 PM
    Does any one have experience with an equity shortfall sale on a mortgaged property? How would this affect credit rating etc?
Page 1
    • DCFC79
    • By DCFC79 9th Oct 17, 9:53 PM
    • 30,922 Posts
    • 19,556 Thanks
    DCFC79
    • #2
    • 9th Oct 17, 9:53 PM
    • #2
    • 9th Oct 17, 9:53 PM
    Does any one have experience with an equity shortfall sale on a mortgaged property? How would this affect credit rating etc?
    Originally posted by CharlieR1008
    Remember, the credit rating is only seen by you and only you, your credit history is what lenders see.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • tenchy
    • By tenchy 9th Oct 17, 11:17 PM
    • 241 Posts
    • 59 Thanks
    tenchy
    • #3
    • 9th Oct 17, 11:17 PM
    • #3
    • 9th Oct 17, 11:17 PM
    Remember, the credit rating is only seen by you and only you, your credit history is what lenders see.
    Originally posted by DCFC79
    So how might it affect credit history?
    • MEM62
    • By MEM62 10th Oct 17, 10:28 AM
    • 1,441 Posts
    • 1,064 Thanks
    MEM62
    • #4
    • 10th Oct 17, 10:28 AM
    • #4
    • 10th Oct 17, 10:28 AM
    So how might it affect credit history?
    Originally posted by tenchy
    Providing the negative equity is settled it should have no impact.
    • Lucky Duck
    • By Lucky Duck 10th Oct 17, 12:07 PM
    • 163 Posts
    • 89 Thanks
    Lucky Duck
    • #5
    • 10th Oct 17, 12:07 PM
    • #5
    • 10th Oct 17, 12:07 PM
    That would seem to be the obvious answer
    • CharlieR1008
    • By CharlieR1008 10th Oct 17, 12:57 PM
    • 7 Posts
    • 1 Thanks
    CharlieR1008
    • #6
    • 10th Oct 17, 12:57 PM
    • #6
    • 10th Oct 17, 12:57 PM
    Yes, the lender has advised it would go on my credit history so just wondering if anyone has experience of this, how much would this affect getting credit in the future
    • zx81
    • By zx81 10th Oct 17, 12:59 PM
    • 15,479 Posts
    • 16,405 Thanks
    zx81
    • #7
    • 10th Oct 17, 12:59 PM
    • #7
    • 10th Oct 17, 12:59 PM
    It depends WHAT is going on your credit files. A settled account would be seen positively.
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