How do Mortgage Lates, Short sales, Foreclosures, and Bankruptcies affect your credit?

What I'm listing below is not necessarily the gospel truth.  I haven't been able to get an exact formula and the more people you talk to the more you'll get different answers to the above question, "How do mortgage lates, short sales, foreclosures, and bankruptcies affect your credit?"
 
Mortgage Late Payments

• Credit score can drop from 100-180 points
• other credit interest rates could be affected (credit cards, equity lines)
• No new mortgage for 12-24 months depending on circumstances

Short Sales

• Credit score can drop from 180-250 points
• Other credit interest rates could be affected
• No new mortgage for a minimum of 2 years depending on circumstances

Foreclosure

• Credit score can drop from 180-250 ppoints
• Other credit interest rates could be affected
• No new mortgage for 3-7 years depending on circumstances
• Will need minimum of 680 credit score and 10% down on next purchase

Bankruptcy

• Credit score can drop 200-300 points
• Other credit interest rates could be affected.
• No new mortgage for 2-4 years depending on circumstance and type of bankruptsy

The above information is not a rule, not a law and only meant to be used as a general guideline.  I hope it is useful. You can get more thorough and complete information from a credit counselor.
But if you need information about buying or selling a home in the East Bay please check out my website: http://www.billfletcherhomes.com/, or email me, bill@billfletcherhomes.com. or call 510-368-2854.