Short Sale Of Home Similar To Foreclosure In Its Effect On FICO Score

Dear Liz: In 2005, I purchased a town home for my children, and they have since vacated the property. The town house is now worth 60% of what I owe, and I am considering a short sale. All my other obligations are current with no late payments in years. My credit scores are over 800 and my only other debt is a car payment. After a short sale, what kind of hit can I expect on my credit score, and about what would be the recovery time for my credit score?

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