Short Sale vs. Foreclosure

Here in North Central Massachusetts many home sellers are faced with the prospect of having to sell their homes due to divorce, job loss, or re-location. I have always felt that a seller should try everything to keep their credit as best they can, stay in the house as long as possible, and do whatever they can to make it work. Lately I have been hearing from real estate attorneys that they sympahize with sellers that want to walk away! Once all personal information is given to the lender in an effort to negotiate the short sale, the lender has everything they need to pursue the deficiency. The damage to their credit is almost the same.   Is this all true???