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Has anyone done a short sale on their house?

I've been trying to sell my house for the last two years. The problem is we owe more than the house is worth. We recently got an appraisal for a refinance and the appraisal was ridiculously low. In four years it "depreciated" over $100,000. Now we are considering a short sale but we are concerned about what it'll do to our credit.

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Asked by milosmommie at 11:31 AM on Apr. 12, 2010 in Money & Work

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Answers (1)
  • A short sale is just a little better than a foreclosure. So your credit is going to be trashed either way- it will just be a little less trashed with a short sale. Sorry you are going through this.

    Answer by Anonymous at 11:50 AM on Apr. 12, 2010

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