Come on Folks
You can usually see early enough that you are going to have an issue with paying your mortgage ( divorce, sickness, transfer etc.) whatever the hardship may be, and if you are not sure that you have a true hardship, ask a professional. Get help.
Don't wait till the last minute or till you are so far behind that you can not be helped. The earlier you seek help the more success we will have with your lender. Seek help at the first signs of trouble even if you are still able to pay your mortgage, but know it will be a problem soon.
Foreclosure is not a pretty thing to have on your credit, and bankruptcy is just putting a bandage on a very infected wound, both will hound you for years to come.
Yes Short Sales also do their share of damage…