From the start to getting an approval it should take no more than 60 days. The short sale negotiator doesn't necessarily need the BK discharge papers to issue the approval letter, they & the escrow co. only need that in order to allow you to close. Getting these papers shouldn't be holding you up from getting an approval.
It's when you start going back & forth countering with the bank over $5k in price that short sale approval can take much much longer, maybe 3+months.
Realtor Since 1996
Main Street Realtors... more
We've sold many homes in the area and just closed one on Crockett a few weeks ago. The demand there was strong in the lower pricing point of 400K and less. We received offers weekly. Most buyers were low down FHA but those are great. I've owned homes in that area as well and they always rented to nice working families and they always gave me great food when ever I dropped by.
FHA loans will not cover non permitted additions unless they were done a very very long time ago and sometimes not even then. Sometimes the addition can be converted back (ie, room back to garage) and then it's not a problem. FHA loans are great for putting little down, but are very restrictive about what you can buy. The only other solution is saving 20% or more and then you will have a wider variety of property to choose from.