I am considering a short sale on my home in order to avoid foreclosure, but before I proceed, I would like to know how it will affect my credit. Will it be as bad as a foreclosure? How long will it be before a bank will consider loaning me the money to buy another home?

If you have gone through foreclosure with your properties, how did it affect your lives and where, did the lender go after your assets, were you able to get a loan or credit cards? Did you regret what you did? I read a lot of advices to avoid foreclosre but would like hear from someone that had went through this hardship.

I have read everything about avoiding foreclosure, but would like to hear from someone who has recently gone through it. There are so many homes in foreclosure that I feel like just letting mine go back, everyone else is. If my credit is ruined, then so is everyone else’s. Would the bank put leans on my other property and/or garnish wages? The stress and my health is not worth it. Thoughts?