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The loan is typically reported ‘settled for less than full amount owed.’ FHA/HUD will report “short sale” to the credit bureaus. Employers have the right and are actively checking the credit regularly of all employees who are in sensitive positions. A foreclosure in many cases is grounds for immediate reassignment or termination.

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The loan is typically reported ‘settled for less than full amount owed.’ FHA/HUD will report “short sale” to the credit bureaus. Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases may challenge employment