Cash for Keys Form
Sometimes we help people take advantage of the “Cash for Keys” program. This helps homeowners who are avoiding foreclosure through a deed in lieu. With Cash for Keys, the lender pays you to vacate the home in a timely manner.
Sometimes when emotional homeowners are forced out of their properties during foreclosure, they intentionally do damage to the property to get revenge on the mortgage lender. Cash for Keys is intended to help these borrowers make their transition easier and has the added bonus of preventing damage to the home.
This is a win-win for you and the lender; you get cash assistance with your relocation, and the lender gets the property back quickly and in good condition. Part of the Cash for Keys agreement is that the borrower will leave the house broom clean and in good repair.
If your lender or landlord wants to offer you this option, they will present you with a Cash for Keys form. If you’ve been made an offer of this kind, contact us for free help, and we’ll go over the form with you and explain all of your options.
HAFA, or the Home Affordable Modification program, is very much like a Cash for Keys agreement that gives the homeowner money for relocation and time to move out, all while avoiding foreclosure on the property.
Because negotiating deed in lieu transactions can be complex, it helps to get an experienced housing counselor to assist you. Talk to housing counselor to help you get started on the HAFA process or any other foreclosure relief you might need.