There’s a great post on LearnVest about what happens to your credit when a mortgage that you’ve co-signed defaults.

Even though the piece was meant as a cautionary tale and the author turned to the Frequently-Wrong-About-Credit Suze Orman for  advice, it’s interesting to note that within a year of the mortgage defaulting the author’s score had recovered to 698 – which is actually above the 2012 median U.S. FICO score of 690 and just two points shy of the coveted 700 club. Also, I was a tad disappointed the author didn’t point out that most of the questionable tactics undertaken by her credit card issuers have since been outlawed by the CARD ACT of 2009 and that even if her friend succeeds with a short sale, it will have the same effect on her credit score as a foreclosure.

Despite my credit-geek nitpicking, it’s a moving piece that provides yet more evidence that a friend who will knowingly trash your credit is a friend you’re better off without.