Now having a co-op puts you in even tougher place because most of the co-op boards have set up minimum selling price or reserve price under which they would not approve any sale and it doesn't matter if it is a short sale or a foreclosure. There are a few listings on the market that are facing the same predicament. One of those is a co-op in Langdale gardens and the other one is in Forest Hills.
I don't know if you are getting any offers at all, if your place is being marketed properly and if you have had any contracts but your board is not letting it go through. But if your place is already listed then you should have a good conversation with your current realtor first. Make sure he is proficient in short sales process and at the same time you have to speak with your management board also.
I wish you Good Luck and in case if you have any questions, please feel free to call me @ 917-833-3253. My name is TJ and I'm based in Floral Park as well.
Short sale is not the end of the world and it will pass. If you are a homeowner that is contemplating a short sale you should take the emotions out of your decision (easy for me to say) and treat this as a business decision. We must work just a little harder.
Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
MARS Disclosure for General Commercial Communications
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.