The real question is did it give him time to resolve his situation --- loan modification, short sale or sale? Delays are only good if something positive is being done with the free time. If you are facing a similar situatiion, don't wait to do something because like many other folks have commented...every bank is different. If you need someone to help you with a short sale, I would be glad to recommend someone. If nothing else, contact you bank immediately and see if you are a candidate for a loan modification and ask a realtor what you home might sell for in today's market.