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Richard Zaretsky has many very informative articles about short sales on his blog and this is one of them. I am often asked about the exact procedures for a short sale and unfortunately I don't have exact procedures and timelines because they vary from bank to bank. We've had some close in as little as 60 days and others that take 6 months or more. Frustrating to say the least but what Richard says about it being "uncharted waters" and that there is no industry standard when it comes to short sales or loan modifications. 
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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