short sales

What is going on with these banks? At first short sales were taking 3-4 months, the 5-6 months, now some up to a year?? let's just think a bit. If you have defaulted on your mortgage you are not paying it. All the people in the collections department just need to give it a rest. Obviously you are not getting your money, that is not the best use of the banks time. Those people should be in the short sale department helping to move these files along. I help people sell their by Short Sale every day. It is hard enough to find a qualified buyer, but to find one that is willing to wait 4-5 months for a house is even more rare. I cannot tell you the number of times I have had a buyer wait for 5 months and the bank has still not given an approval. The buyer walks away. This benefits no one. The bank has more late fees, interest, attorney fees, and penalties imposed which increases the total due. the market continues to fall, and as realtors we need to secure another buyer. So we reduce the price, then the next offer is even lower and we still have to wait. So why after 4 years in this market don't we have a more streamlined system? BOA has started an online submission, it is new adn I will see how well it works. Foreclosures benefit no one, so everyone needs to jump on board and help the short sale process otherwise more foreclosures are inevitable.