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If you are in a position where you can no longer make payments on your home there are things you can do besides going into foreclosure and ruining your credit score. There is a way to sell your home for less then you owe the mortgage holder as long as the mortgage holder agrees. This process is called a short sale. Many homeowners are choosing this option to get out from under a house payment they can no longer afford due to a high interest loan that is no longer affordable or a decrease in pay due to the bad economy. It is much better for your credit score then the damage that a foreclosure does. The mortgage holder can then get someone else in the property so it does not have to go through the whole foreclosure process.

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