As a Real Estate Broker in the Phoenix market, I deal with short sales on a regular basis- they make up about 50% of the homes on the market. So most of these homes are already in foreclosure- meaning they have gotten the foreclosure notice, which gives the homeowner 3 months before the bank forecloses on their home. So most of the time people call me with 1-2 months until the foreclosure date.
Continued here:Postponing Foreclosure – Can Realtors Postpone All Foreclosures?