Short sales and loan modifications on average take a 90+ days because of the overload of phone calls and applications submitted at this time. I was told today (9/14/09) that Chase receives an avg of 4,000 calls per month for information.

I have also heard of situations where the bank provided resolutions very fast in 30 days or less.

Either way prepare for the long route because if you wait to long and run out of time, financially you can put yourself in a bad position.

Many Seattle home owners feel that they qualify for a loan modification but the bank has turned them down. DO NOT give up, you might talk to the right person one day who will escalate your situation. Make sure you consistently contact the financial institution for status updates.

Thanks!