Short Sale Approval Blues...GMAC & Pending Tax Credit Date: Is it Possible?

Hello All! I've got Short Sale Blues! First time home buyer, here, buying a short sale residential property $7K less than appraisal. Seller agreed and we both signed a contract on 4/30/10. Waiting for approval for 3 months. No word. The listing agent refused to respond to requests for updates or provided vague or misleading information, like "the offer might be too low, that is the reason why the lender hasn't approved it." After everyone including my attorney and agent, the seller and seller's attorney tried to get updates from the listing agent for months; the seller finally contacts my agent for help. Around 7/1/10, the seller authorized my agent to get an update from the lenders through an authorization letter. When the listing agent heard this on voicemail, they were quick to respond but reluctantly agreed to draft an authorization letter for the seller to sign and provide us with copies. Surprisingly, the listing agent never provided anyone with a copy of the authorization letter, but would always state that "it was faxed and emailed, but will resend it tomorrow"; but "tomorrow" never came. So the seller had to draft another letter that allowed my agent access to seller information with both lenders (GMAC -1st & BofA -2nd) and send it directly to my agent. On 8/1/10, once we got the signed authorization submitted to the lenders, my agent found out that the contract that was signed by the seller and I on 4/30/10 was NEVER SUBMITTED to the lenders!!!! That's right, the listing agent never submitted the signed contract to the lenders! So for 90+ days, I've been waiting to hear about a short sale approval which was never submitted to the lender!!! Arrrgghhh!!! Ironically, the property was due to foreclose 4 days prior to my agent finding out that the contract was never submitted. Once the listing agent found out that we knew the contract had not been submitted, they have been attempting to cooperate and work to close the deal. While I know the problem lies with the listing agent and the sellers' attorney (chosen by the listing agent), I feel as if I've suffered enough!
Now GMAC finally has the completed package with a Loss Mitigation Analyst and has extended the foreclosure proceedings until December 2010, but I want to close on or before 9/30/10. So my question to you experts is, do you think it Is it realistic to expect to close on or before 9/30/10? If I have my agent explain my situation (which is as frustrating as everyone else's) to the LMA @ GMAC, would that expedite their approval? I believe BofA has already given their approval to take a loss, but we're waiting on GMAC. Any advice on how to proceed to close by 9/30/10 would be much appreciated.
Short Sale Blues!

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Short Sale Approval Blues...GMAC & Pending Tax Credit Date: Is it Possible?

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