• A cooperative approach to a short sale may provide the quickest route to a short sale decision if you begin the processearly enough, such as during your initial discovery conversations with the homeowner.
• A cooperative short sale provides terms of the short sale before marketing the home.
If you do not have an offer, the agent or homeowner can call to request a cooperative program eligibility review.
Benefits of a Cooperative Short Sale:
1.Non-owner occupied eligibility
2.Jumbo loans my qualify
3.Early investor/insurer approval shortens decision time
4.Initiate process prior to marketing the property
5.Lender decision within 10 business days
6.The investor may require cash at closing or a promissory note
7.The investor may require the right to pursue deficiency
8.Foreclosure placed on hold with signed purchase agreement
9.Credit impact is typically less than a foreclosure – deficiency charge off will be reported to credit bureaus
10.$2,500 relocation assistance
