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Brett's Blog

By Brett | Real Estate Pro in West Hills, CA

Cash Incentive to Homeowners - Cooperative Short Sales & Bank of America

    Bank of America offers a program called Cooperative Short Sales also known as a CO-OP short sale which allows a homeowner to begin processing a short sale prior to an offer being received. These short sales are usually processed by 3rd party vendors working on behalf of Bank of America and the program offers an incentive varying from $2,500 - 30,000 based on the appraised value which would be granted to the homeowner upon the short sale closing. Depending on the type of loan the homeowner may not qualify for a CO-OP short sale (FHA, VA, USDA and lot loans). Many times homeowners will be solicited for the CO-OP strategy, but from our experience it is also possible to have homeowners placed into a CO-OP short sale who originally weren’t solicited for it. CO-OP short sales are great program to participate in if Bank of America is servicing your loan and you do not have a buyer or qualify for other relocation incentivized programs such as HAFA.

Absolute Conultant Group

Short Sale Account Manager -

Contact me @ 8885595956

 
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