Those who have undergone a previous short sale need to pay careful attention to their credit report to make sure it was reported 
accurately by the lender, especially if they want to apply for a new mortgage anytime soon. The short sale may erroneously appear on their credit report as a foreclosure, a blemish that could haunt them much longer and prevent them from obtaining a new mortgage because it’s a red flag to a lender. Typically, when lenders report on a short sale, they’ll say, “settled for less than full balance.” That’s a key indicator for a buyer's new mortgage lender to see because it shows that the previous property was a short sale, not a foreclosure. Credit.com says these credit report codes will also hamper a borrowers’ ability to qualify for a mortgage any time soon.
accurately by the lender, especially if they want to apply for a new mortgage anytime soon. The short sale may erroneously appear on their credit report as a foreclosure, a blemish that could haunt them much longer and prevent them from obtaining a new mortgage because it’s a red flag to a lender. Typically, when lenders report on a short sale, they’ll say, “settled for less than full balance.” That’s a key indicator for a buyer's new mortgage lender to see because it shows that the previous property was a short sale, not a foreclosure. Credit.com says these credit report codes will also hamper a borrowers’ ability to qualify for a mortgage any time soon.
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