Credit Score and Credit Consequences of Short Refi?

[Ram Chandrasekaran]

Team
I am trying to understand how the Short Refi affects the Credit Score once everything's a done deal. Here's a hypothetical situation. Any insight is Greatly Appreciated!

- I short refi for 'X' amount the Lender sends a 10-99 for the loss they have taken
- I talk to my CPA and have them project the amount as a loss and not a gain in reality
- Lender reports to the Credit Bureau about the Short Refi (which in effect is considered a Short Sale)
- Credit report shows 'Short Sale' or probably, ForeClosure
- Points reduce by about 60 points? (or more)

What happens to:

- My existing Credit Cards. Will the interest rate increase?
- If I plan to lease a vehicle under my LLC and personally agree to be the Guarantor, they are going to have to check my Credit Score. Will the application be denied or higher interest rate for financing?
- What happens to the future credit - i.e. if I apply for a new credit card for my LLC, open a Business Credit line, etc.
-How long does the credit score continue to be low after a Short Refi (7 years? 3 years?, etc.)
- Will I be able to find a rental house after the Short Refi as I am quite certain the Short Refi is going to show up in the Credit Report when the Landlords pull the credit
- Anything else that I have ignored in my questions or scenario

Thanks for your help again Team!

Cheers
Ram