I have a Seller that is considering a short sale, the lender has all but agreed to it. The difference is about $12,000.00, the lender said as long as the PMI company agrees to it, they expect it will be approved, the short sale will be approved.

The Seller asked the lender if they will file a judgement for the difference. The lender said no.

Does anyone have experience with the effect of a short sale on the Seller's credit score? The Seller has a 720 credit score and is current on payments. The concern is the long term effect on the Seller's overall financial picture.