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Cash for keys
I am a renter and I just recently discovered that the owner may or may not be in foreclosure. We have had no time to save money or even find a place. I heard about a program called cash for keys but I need help locating the bank to ask them about it. The owner won't help us... I desperately NEED HELP PLEASE... :eek:
OK so is there really a program called cash 4 keys & how do I find out about it... do I have to wait for the bank 2 come 2 put post the foreclosure signs first.. PLEASE HELP... :confused: |
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Never heard of the program, maybe it is a local thing.
But basically if the owner is about to be foreclosed they have to either sell it to someone, pay the bank, or they will lose the property to the bank. As the renter you have little or no rights what so ever You can try and buy the home from the current owner for what is owed on it. Or you can try and work out a deal with the bank to buy it from them after they foreclose. Short of that you will be forced to moved ( evicted) normally after the bank takes ownership |
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Father Chuck,
Apparently a lot of banks have an informal policy of paying renters to leave foreclosed properties. Enough do it that a new scam has arisen of squatters moving into foreclosed properties simply to tell the bank that they are renters and will leave under the cash for keys deal. I assume it's cheaper and easier for the banks to pay for the renter to leave rather than going through the eviction process. |
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CasH 4 KEYS program? Never heard of such support program.
You could try to Google for more information, but I did not see anything when I searched for it. What kind of program do you think it is, as you mention the bank to come to put foreclosure signs up... Could it be a nation wide or a regional program? How do you expect that program operates? May be it has an official different name... :) |
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If you do not know what bank has the lien, you can go to the county court house and the lien info will be listed where the deeds are recorded
“Cash For Keys” Or Why You Shouldn't Trash Your House On The Way Out The Foreclosed Door | MainStreet |
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Cash 4 keys from what I've heard the bank comes and offers the renters money 4rm $1000-$4000.. to leave the property undamaged & to be able to have the deposit to move into another location.. but I'm not sure of the details... so if anyone knows anything it would be very HELPFUL... t/y :)
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