Mr. Cooper Short Sales offer Relocation Assistance to borrowers and qualified occupants when they are being forced to relocate because of the short sale. Relocation funds are paid by the servicer through the proceeds of the sale at the close of escrow before the short sale lender gets their funds.
Who is Mr. Cooper ?
Mr.Cooper was previously known as Nationstar , they are one of the biggest non bank mortgage servicers in the Nation. Nationstar Mortgage was founded in 1994 and they are set to officially transition into the new name Mr. Cooper in August 2017. Since the change to Mr. Cooper its not very clear what all the new procedures are and if anything has changed in the servicing procedures.
What is a Mr. Cooper Short Sale ?
A short sale is a sale of real-estate when the proceeds of the sale do not cover the full amount of the debt owed on the property, the lien holders agree to accept less of the amount owed on the debt and release their lien on the real-estate. Mr. Cooper Short Sale Help is only an option if the property is underwater ,in many cases the deficiency would be waived and funds to assist in relocating can be obtained. For a Mr. Cooper Short Sale Borrowers who cannot afford to stay in their homes, or want to move on from the property befor
e its too late Mr. Cooper offers options that enable the borrower to exit ownership without facing the stigma of foreclosure.
What should I look out for when completing a Mr. Cooper Short Sale ?
- Mr. Cooper Short Sales are worked through Equator
- Mr.Cooper is notorious for incorporating 3rd party online auction groups in their short sales to try and obtain the highest offer possible
- Mr. Cooper requires at least 37 days prior to a foreclosure auction date in order to review any type of assistance. If in Active foreclosure and trying to obtain Mr. Cooper Short Sale help the review needs to be initiated more than 37 days away from the Foreclosure sale date.
How can i get Mr. Cooper Short Sale Help ?
Mr. Cooper Short Sales can be very difficult to complete and if not done correctly it could screw up your chances or your clients chances ( if you are a Real Estate Professional ) to obtain assistance in relocating or just getting the Short Sale completed. To receive a free consultation call us at 888-558-5856 to get a free consultation and assistance setting up your Mr. Cooper Short Sale Application or complete our contact form below for a expedited response.