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From NCSB

Lenders don't like it when a debtor does not meet their promise of repayment, and they're quick to keep each other informed of who does and doesn't pay by reporting to credit bureaus. A report filed against an individual for non-payment of a loan will be accessible by any financial establishment that's considering providing a loan, meaning that they might decide against lending the money out of worry of not being repaid.

Although a short sale might not be deemed as severe as a foreclosure, there are still credit rating implications incurred. Additional points are incurred if the seller was delinquent on their loan before the sale and by how much. It's possible that a negative impact on a credit rating can be avoided all together on a short sale since in some cases, the debtor is able to take out another loan to cover the outstanding amount. If the reason for the short sale is that the house owner can no longer afford to repay the loan, however, then it's highly unlikely that such a loan will be granted.

A lender could even sue the individual for the outstanding amount however in the case of delinquency, the borrower will not be able to pay. In this case the lender is more likely to make use of this loss as a tax write off. This would still be registered as revenue though, which means that the borrower could find themselves with a tax bill. If a seller of a short sale house does agree to recoup the outstanding amount then this could even improve their credit rating, again despite the fact that this is unlikely to happen in the case of a person who cannot repay the original loan.

If a seller was current on their loan while short selling their property, and they agreed to repay the debt relief, then the seller could apply for a new house right away if they wish to do so. It is not the fact that they short sold their house that the lenders don't like, it's simply down to a matter of payment.

Even for those who do have delinquencies on their loan before a short sale, there is still an advantage to deciding upon a short sale over a foreclosure since after a short sale, the seller can purchase another house after 2 years as opposed to 5-7 years for a foreclosure.

Though, at the end of the day, the decision on whether or not a loan is granted depends on how confident the lender is that they would be paid back. Due to this a borrower might need to agree to a higher interest rate if the lender considers them to be a higher risk, although the rules of this are at present tighter as it was a factor that contributed to the sub-prime loan crisis. What is likely though is that considering the latest financial crisis and the fact that so many individuals lost an income, and with it the ability to pay through no fault of their own, then the lender might not look down on this as much as they would if it happened in a healthy economy. 任意売却