You have not named the lender. If the lender is one of the "major" banks, it should be obligated to comply with the various "regulations" or "guidelines" that have come out under the Home Affordable Act and related "acts" that claim a lender must review a short sale within a short period of time (like 45 days). However, practical experience has shown that this "regulations" simply aren't being followed and the lender can claim that it's in compliance because it's review showed that your offering price was too low per their standards, etc., and they always demand the seller provide updated financial if they get more than 3 months "stale" etc. Whoever is negotiating the short sale (realtor? short sale branch of a title company?) can demand to talk to a supervisor about the status, which might get results. You can file a complaint with the governmental regulatory entity that regulates the lender (varies with who the bank is). Bottom line, as a very practical matter, I think there is little to be done about the slow short sale practice.
Answered on Jan 10th, 2013 at 12:47 PM