There is no rule of thumb, each lender has their own set of criteria... must perform their own due diligence, and may have third parties that must approve the short.
Upon a major mortgagee's receipt of a completed short sale application, you should have a reply within 30 days to 45 days.
If your Proposal has been submitted to a second mortgagee's branch office that handles such requests individually... it could take quite awhile.
There is no rule of thumb, each lender has their own set of criteria... must perform their own due diligence, and may have third parties that must approve the short.
Upon a major mortgagee's receipt of a completed short sale application, you should have a reply within 30 days to 45 days.
If your Proposal has been submitted to a second mortgagee's branch office that handles such requests individually... it could take quite awhile.