I have not done a hundred however the team I assembled has been party to over 100. I did not say that little documentation is required, I said that the documetnation they require is inadequate in my opinion to adequately analyze the selelrs situation. For example, they typically ask for a couple months bank statements but make no effort to determine if there are additional bank accounts. They also do not ask for retirement accounts or brokerage account statements as a matter of course. I have completed short sales when NOD’s were never filed (in one case despite no payments made in over 1 year) and when payments were never missed. There are strategies for getting short sales done in such circumstances that are very effective. There are strategies that work when the 2nd is sold out and the 1st is not but the 2nd doesnt want to deal. There are more strategies then I could write in an hour that we have employed successfully.

Here is your comment:
“Generally most banks will not entertain short sales until the seller is technically in default. Given that a notice of default does not happen until about 3 or 4 missed payments it would seem improbable that this guys bank will approve of the short sale.”

There is no way for you to say it is improbable without knowing the details of his situation, who is negotiating on his behalf, what strategies they are employing, who his loans are with, are they purchase money or recourse loans and on and on. That is what you said that was misleading.