If I have multiple offers on a property and the seller is reviewing or countering offers, I will put the listing on Hold status. It is usually only for a max of a few days until an offer is selected. You must be referring to a specific property or a specific agent. I don't think that the majority of agents are abusing the Hold Status in the MLS.
Coldwell Banker Star Realty
BRE Lic #01456982... more
It depends on many factors and can be very subjective.
credit score can drop between 250-300 points.
Do remember, the late payments can have as little as a 50 point impact on your score.
Even you might loose a lot of points, if you short sale your property, you'll restore your FICO much faster: a foreclosure affects a score for up to 7 years or more VS in a short sale, the effect usually lasts 12-18 months, depending on delinquency.... more