There are a lot of factors that need to be considered in order to answer your question. If the lender has already started the foreclosure proceedings, and has been issued a lis pends, and the property is in Martin County--it could be 6-9 months before the court date actually comes around. Other things that are taken into consideration: how many months behind you are currently on your payments, do you have a 2nd or a home equity loan, and who the 1st mortgage is with.

Selling your home as a short sale is challenging at best, and you need to have someone who is well versed in short sales to help you with the selling of your home. Also, you should speak to an attorney who specializes in real estate as well as your accountant, because there may be other issues that you need to consider that they can bring to your attention

If the mortgage is not being paid the bank will most likely keep proceeding with the foreclosure. When and if you get the notice of foreclosure from the bank, you will have 30 days to contest the foreclosure in writing. This can delay the foreclosure if you have some grounds.

Because of the large number of foreclosure properties and the backlog this has created it can take considerable time before the bank actually takes possesion of the home. In some situations, the bank may even let the former owners occupy the property to keep it more presentable.