A signal processing method to impart the response of an acoustic string instrument to an electric instrument that includes frequency-dependent string decay alterations is proposed. This type of processing is relevant when trying to make a less resonant instrument, such as an electric guitar, sound similar to a more resonant instrument, such as acoustic guitar. Unlike previous methods which typically only perform equalization, our method includes detailed physics-based string damping changes by using a time-varying filter which adds frequency-dependent exponential damping. Efficient digital filters are fit to bridge admittance measurements of an acoustic instrument and used to create equalization filters as well as damping correction filters. The damping correction filters are designed to work in real-time as they are triggered by onset and pitch detection of the signal measured through an under-saddle pickup to determine the intensity of the damping. A test case is presented in which an electric guitar is processed to model a measured acoustic guitar.