Should you let your property go into foreclosure or market your property as a short sale. All indications are that you should do aything that you can to get your property sold by way of negotiating a successful short sale. The negative affects of a forclosure are far greater to a homeowner than if you short sale your property. A foreclosure will have long term affect on credit report and scoring. A foreclosure may affect current and future employment, your ability to get loans and how much money the bank will come after a homeowner for a deficiency judgement. Foreclosure vs. Short Sale..... go for the short sale.