Homeowner Short Sale?

[Christopher W.]

I know that a homeowner can negotiate their own loan mod, but can they negotiate their own short sale? Obviously the lenders will want to see an offer on the table, so if the owner has an offer can they contact the bank themselves and start the short sale process?

[Jonathan Rexford]

In short. YES but why would they. The lender is going to ask for proof that it was for sale. If the seller can document that then ok. The time frame? That is subjective. I have seen short sales hit the market and under contract that afternoon and approval letter done in 3 weeks and close in 30 days. But I am not sure why a seller would want to. Plus its going to be subjective to the lender. Most (some) want it to be listed on MLS.
The ones I do they want listing contract all modifications of listing contract along with MLS sheet.