What is Cooperative Short Sale (HAFA-style)?
A cooperative short sale is a streamlined program in which the lender pre-approves the short sale terms — and sometimes offers the seller relocation assistance — before a buyer is even found. It aims to make the process faster and more predictable than a traditional short sale. Availability depends on the loan investor and current programs.
Example: Under a cooperative short sale program, the bank tells the homeowner up front the minimum it will accept and offers a relocation incentive at closing, so the home can be marketed with clear terms.