Would a Bank Accept a Short Sale if the Homeowner is Current on Payments?

The answer is, maybe. Some lenders will accept a Short Sale file for approval on loans that are non delinquent, however, this is very rare. Other lenders will not accept the file until the loan is delinquent. One way to find out wether your lender will accept a short sale file for approval on a loan that is current is by submitting a short sale file to your lender.