What is a foreclosure cooperation agreement?

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What is a foreclosure cooperation agreement?

I owe my mortgage company back pay on my home so they verbally agreed that the property will be sold and I will make a profit. My lender stated I must first sign this document which I just received by mail. This document he asked me to sign states that I must surrender the property and vacate. In addition the lender will not come after me for any money owed. No where in the document does it imply that the property will be sold nor that I will make a profit.

Asked on January 23, 2013 under Real Estate Law, Wisconsin

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I suggest that you consult with a real estate attorney to carefully review the document tht you have written about in your question. Based upon what you have written about it seems to be some improper conduct by your mortgage company or some third party to deceive you. I have never heard about what you are trying to explain.


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