in my experience it doesn't automatically buy you time. that is up to the bank.. maybe now
CW will work you a bit.. I think you are also way ahead of the game... not waiting till the end to try a short sale. Stay on those people... be careful, the people who worked with my on a short sale, only waited until i got my foreclosure papers, then they wanted the title so i could avoid foreclosure.. well according to my att SCAM.. then i woudl have become thier renter...