Short Sale Process Time

[mvcathey]

I was wondering if there is an average time I should expect for a short sale to be completed or does it just depend on the lender? And would entering into short sale negotiations delay the foreclosure process? I have a seller who has received a NOD but he owes more than than the property is worth. It is a desirable property for rental and was wondering if its worth the time to pursue.

Thanks

[caroline]

Hi,
In a short sale, property sell at the lower price than the amount homeowner owes on the mortgage. It is the best alternative to stop foreclosure.The average time period to complete the short sale process is 30 days to 2 months.
Thanks!!