She should only do that if she is ready and willing to walk. One thing confuses me, how can the second accept when there is no official 1st agreement. The second only gets the leftovers, so until there is a definite figure for the 1 lien settlement, the second can not really officially accept. They may have stated that they are OK with the idea, but that is a ways from a full approval.
The reason these thing take so long is that they usually have some sort of asset manager or something that handles your file. They may only loo at your file once every 2 weeks or so since they probably have thousands of them. Often times they then have to get approval from either a higher exec or a committee that may only meet every couple weeks or so. So everytime you go back and forth you can be looking at a month or more just to get a simple answer and each re-negotiation can set it back a long time. Most people looking at these are nitcpicing for the best deal and all the back and forth kills months of time. The really succesful short sale deasl you here are usually people who just go straight in and say tell us yes or no, no negotations...x price with x concessions period. No back and forth. They still wait the month or two to hear back initially, but if they make it clear that this is all they are doing, then the bank can make a decision and get the process going.
