Seller hardship letter - is divorce enough?

[Account Closed]

I know someone that has a divorce finally over with, and now the house must be sold. The only problem is that he cant see to sell it, because the market has deteriorated, and it is in a rural area. He is still dealing with an agent who has already mentioned that a short sale might be an option. Since this is a friend of mine, Im not going to get involved, other than offering him some articles & background information.

This has me thinking - in dealing with potential sellers who have very little or no equity in their property, and are getting a divorce, have moved back in with their parents, and is still making payments on the property, how likely is the bank to accept an offer? Or, is it more likely when the owners have moved in to an apartment and generally cant make the payments any longer, than the bank will listen to short sale offers?