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Home owners there is a timeline you will want to keep in mind when doing a short sale on your home. From the time that you stop making a payment on your loan 120 days from that first month that you missed your payment you will receive a Notice of Default.  From the date that is on the Notice of Default 120 days from that date you will receive a sale date telling you when your home will be sold on the court house steps.  Let’s say you have submitted all the short sale required documents to your lender and you have a short sale in the process “this does not stop this timeline!”  In short home owners when thinking of doing a short sale time is of the essence when it comes to this timeline. Home owners if you have a short sale in progress you will also need to keep track of this timeline along with your Realtor, as in most cases but not all, your Realtor may be able to negotiate an extension of the sale date but usually not until a couple of days before the sale date is to commence so this is a very tricky and tight window in which to act.