In my previous blog I talked about “What to do when facing financial hardship?” There are several steps that a homeowner can take to avoid foreclosure. If you’ve waited too long before seeking help, YOU STILL HAVE OPTIONS… Who would’ve thunk it? LOL
Did you know that you could get cash for keys?
Cash for keys is a way for homeowners in the foreclosure process to receive cash in exchange for surrendering the keys and vacating the home. Banks generally to do tell you about cash for keys — you have to bring it up. They will reach an agreement with the occupants of a foreclosed home, which stipulates the home will be left in good condition. The agreements typically set forth a specific date that the home will be left vacant, including a promise from the occupants that they will not:
- Vandalize the home prior to their departure
- Strip the foreclosure of light fixtures, appliances, copper.
- Leave any animals or pets behind and in the home
How much to they pay? Thats negotiable. I have personally seen a few thousands to several thousand (remember, we keep all client information conformation confidential).
HAFA Program — offers up to $3k to sellers if they still live in the home or to a tenant if the property is leased out for their relocation.
Investors also offer Cash for Keys — investors will also offer you money to help you move if you are in the middle of a foreclosure and have not working it out with your bank. Reach out to your local realtor and see if they have any investors lined up that will do this. I will go into more detail in another blog.