tony.b;3290896]They had said I can do a Short Sale if I wanted too but they also said they cannot guarantee it be approved
that's good news for you
.My sister is a local Realtor and told me I can still try a Short Sale but it would take 3-6 months possible longer to close and I didn't need approval from the lender
,Your sister is wrong. You are asking the lender to accept less than the full amount of what you owe in order for them to release their security interest from the property. They have no obligation to do so. They do not have to accept a penny less than what you owe them to release that interest.
from what I heard this can take anywhere from 12-24 months to go though the courts
I'll take your word for that but to me that sounds way too long.
a word of caution:
a short sale does not mean you do not owe the remainder of the debt unless specifically written as such. Make sure any short sale the lender accepts not only releases their security interest but absolves you from any further liability to them as well. Some people are quite surprised to discover that the release of interest and owing the debt are two very separate matters.
just a quick look suggests the foreclosure could take even longer than what you stated. One site says the average time is 935 days (2 1/2 years)