Skilled Bankruptcy Lawyers Giving Struggling Homeowners Options
The program referred to as “Cash for Keys” is a way for homeowners in foreclosure — or for tenants who are victims of foreclosure — to receive cash in exchange for surrendering the keys and vacating the property. Banks generally reach an agreement with the occupants of a foreclosed home, which stipulates the home will be left in a good, clean condition. Our Tampa bankruptcy lawyers can help you to learn more about if this program is right for you.
If a foreclosure is imminent on your property, and you are considering your options, it may be in your best interest to consider “Cash for Keys.” This program may be used as a way to vacate the home, receive money for relocation costs and prevent the costs associated with foreclosure.
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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, strip the home of any fixtures or appliances, or leave behind any pets or personal items.
At the Debt Relief Legal Group, we can explain your rights under the “Cash for Keys” program and help you understand whether this may be an appropriate option for your situation.
Depending on your objectives, we will develop a comprehensive plan and foreclosure defense strategy with the goal of minimizing any financial exposure you may have on the mortgage and maximize the time you have to enjoy living in your home. This plan may include foreclosure defense, mortgage modification, negotiated settlements, short sales, deed in lieu of foreclosure, strategic abandonment and other options.