http://ficoforums.myfico.com/t5/Mortgage-Loans/Is-a-Short-Sale-as-bad-as-a-Repo-on-your-FICO-score/m-p/236272#M14154 <div></div><div>I have been laid off form my job in the flooring industry for the 2nd time in 4 months.  I have a 1st ($200,000) and a 2nd ($42,000) with the same lender(First Franklin-Home Loan Services).  I will not be able to sell my house and pay it off.  I was wondering if I get the bank to accept a short sale instead of just having them repo it, does it still damage my credit the same?  Currently my Fico avg is only about 640. </div><div> </div><div> </div><br><br>Message Edited by songman50 on <span class="date_text">05-12-2008</span> <span class="time_text">02:41 PM</span> Mon, 12 May 2008 21:41:17 GMT songman50 2008-05-12T21:41:17Z http://ficoforums.myfico.com/t5/Mortgage-Loans/Is-a-Short-Sale-as-bad-as-a-Repo-on-your-FICO-score/m-p/236272#M14154 <div></div><div>I have been laid off form my job in the flooring industry for the 2nd time in 4 months.  I have a 1st ($200,000) and a 2nd ($42,000) with the same lender(First Franklin-Home Loan Services).  I will not be able to sell my house and pay it off.  I was wondering if I get the bank to accept a short sale instead of just having them repo it, does it still damage my credit the same?  Currently my Fico avg is only about 640. </div><div> </div><div> </div><br><br>Message Edited by songman50 on <span class="date_text">05-12-2008</span> <span class="time_text">02:41 PM</span> Mon, 12 May 2008 21:41:17 GMT http://ficoforums.myfico.com/t5/Mortgage-Loans/Is-a-Short-Sale-as-bad-as-a-Repo-on-your-FICO-score/m-p/236272#M14154 songman50 2008-05-12T21:41:17Z http://ficoforums.myfico.com/t5/Mortgage-Loans/Is-a-Short-Sale-as-bad-as-a-Repo-on-your-FICO-score/m-p/236289#M14158 <div>same as foreclosure when you ty to get another home loan.</div><div> </div> Mon, 12 May 2008 21:32:48 GMT http://ficoforums.myfico.com/t5/Mortgage-Loans/Is-a-Short-Sale-as-bad-as-a-Repo-on-your-FICO-score/m-p/236289#M14158 DallasLoanGuy 2008-05-12T21:32:48Z