Is a Short Sale as bad as a Repo on your FICO score?
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.