How long, how difficult, how easy, how fast...? These are all questions that are virtually impossible to answer when it comes to short sales. Link those questions to any specific bank and the answers get even more confusing. There is absolutely no rule of thumb when it comes to short sales. Every bank is different and it seems as though every negotiator is different. To be more to the point on your question, my experiences with Bank of America have not been good for the most part. I've had one short sale that was smooth sailing with BOA and the rest were frustrating for everyone involved, except maybe it seems BOA. The short sale journey is not a fast one and not one that is without complications. But, if you have the patience and you remain organized the rewards can be worth it. My best experiences have been with Chase.
One more thing for everyone reading, if you are considering a short sale and you are a homeowner, don't wait any longer. The Mortgage Debt Relief Act expires at the end of this year and it can save you thousands of dollars. But, don't take my word for it, consult with your tax advisor.