I am not making lightly of your question but in real estate reality, this is like asking the meaning of life.
It is nearly IMPOSSIBLE for you to understand what you are about to become engaged in.
You would be well advised to pick up the phone and call a Glenview REALTOR experienced in short sales. Ask them, "How many short sales have you CLOSED in the past two years? Yep, some take as long as two years. OThers that 2 years and still fail.
In closing, all the horror stories, all the risk, abuse, neglect, and betrayal you are to hear about are TRUE!
Don't wade into this without an experienced guide.
Best of success,
Annette Lawrence, Broker/Associate
Palm Harbor, FL