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BK & Foreclosure


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So far foreclosure proceedings on our prior home have been initiated, but haven't heard anything in about a month.

My questions are 1) BK discharged 4/29, and we got our scores over 600. Just how bad would a foreclosure look on the reports and what will it do to the scores (approximately)? 2) We might have a chance to do a short sale. We won't see anything from it but if the lenders agree this will all be over. Would a short sale be better then to let the foreclosure go through? A realtor from a very reputable franchise has shown interest in listing the property with a short sale in mind.

Thanks for any help.

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