"Belief #7) Short sales are as financially damaging to my credit as a foreclosure.
Again not true. If you do a short sale your credit will show late payments and that the debt was satisfied. The average person according to several financial experts will lose 100 points or so on their credit score depending on how long the short sale drags out and how many payments are missed. It typically can take 3 years or so to be able to qualify for another home loan. A foreclosure on your credit shows up as..."
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