This is ending 2 out of 4 [1 being the best ending, 4 being the worst.]
According to Game-Endings.co.uk:< br />
By managing to defeat Walter before Eileen commited suicide by walking into the pool of blood, 21 Sacraments failed and both Henry and Eileen survived. Henry's room was however, possessed, and it's unclear what happened to the apartment building and it's tenants after this ending.
This is ending 1 out of 4 [1 being the best ending, 4 being the worst.]
According to Game-Endings.co.uk:< br />
The apartment building is safe and both Henry and Eileen survived the final battle. They decide to leave South Ashfield Heights and find another home.
This is ending 3 out of 4 [1 being the best, 4 being the worst]
According to Game-Endings.co.uk:< br />
All the haunting in Henry's room were exorcised, and the apartment building is now safe. Eileen died during the final boss fight, but since Henry survived, the 21 Sacraments failed.
This is ending 4 out of 4 [1 being the best ending, 4 being the worst]
According to Game-Endings.co.uk:< br />
All 21 people were killed, thus the 21 Sacraments ritual was completed. Although Walter has been defeated, Elieen was not saved, and Henry died in his room short time later. The entire apartment building was possessed, and Walter's spirit could return to Room 302.
I figured you guys deserved the other SH endings, too, so here:
According to Game-Endings.co.uk:< br />
This ending can be considered a good ending, and you will always get it during the first playthrough, no matter what you do.