[caption id="attachment_953" align="alignright" width="267" caption="Short Sale Files"][/caption] Short Sale Effects on Credit Effects of distressed home ownership on credit; short sale vs. foreclosure- what's the difference? Why go through all the hassle? Why not just walk away and give it back to the bank? Are you contemplating a foreclosure to solve your mortgage problems; just walking away and waiting for the bank to take it back? Consider this: you may be doing neuclear damage to your credit by allowing the banks to control the timeline of yor solution! The banks are not taking properties back, you may have 18, 20, 24 or more months without a payment on your credit report. Do you know what that will do to your score? Do you know how long it will take...
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