Exactly how bad will stop payments / forclosure on my home effect my credit?

  • Thread starter Thread starter ricknsac
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ricknsac

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I am suffering from job salary decrease and possibly job loss in near future. Everyone keeps telling me to stop making payments on my mortgage, save every penny I can. I listed it for sale and about to stop making payments. Can somebody please tell me exactly HOW BAD it will effect my credit? I have a 760 credit score never been late on anything in my life. Can I live with a forclosure? Please help.
 
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