TO let foreclose or file and short sale???

[253BK]

Hello everyone we are getting very close to filing and have a sale date for next friday on our home! I am wondering would it be better to file and keep the forclosure off of our credit report or just let it go???

It is a non judicail forclosure so we wont have to worry about them coming after us for the differance but need some info on what would be best for our credit

[car67]

What does it matter if your filing let it go...... Your credit is shot for 7 years until all of this falls off

[253BK]

Great input car67 why even say anything??? I know that it is there for 7 years but was hoping to get the least affect by either saving it and doing a short sale or just let it sell at auction!

If a home goes to auction it posts on your credit reports this making it harder to get a home loan down the road! A friend of mine is in chap 13 and on his 13th month with no money down just got a FHA load at 5.75% better than I could have got with a 740 score!!!

This is why I am asking! To get his loan all he had to do is show 12 months payments to the trustee and they closed in 45 days!