There are programs that now help the families that are in foreclosure. One such program offered by the banks or lenders will help you with the move and maybe even the rent for the new place you. I have come across the most recent half way good news for those people that are going to say uncle to their home when they are in foreclosure.
There are programs that now help the families that are in foreclosure. One such program offered by the banks or lenders will help you with the move and maybe even the rent for the new place you. I have come across the most recent half way good news for those people that are going to say uncle to their home when they are in foreclosure. The Banks have stepped up and started offering money if the house is left in good shape and not stripped.
There are a few Banks that are doing this, I’m not sure if all of them are doing this but there are a few. You need to ask your bank if they are utilizing this program. It can also cost thousands of dollars to evict a homeowner or tenant. It’s also time consuming to go to court. Banks are wising up in the fact, why give the cleaning companies, and the contractors (because of the damages), a tremendous amount of money. Give it back to the homeowner and help them leave with some dignity. This program is known as Cash for Keys.
So there is hope for you even though you have to leave your home. They can give you quite a bit of money if you do it right. The amount is negotiable; banks typically don’t automatically offer cash for keys unless the homeowner first asks about the program. To move out, these are reasonable expenses you may expect to recover: 1) A security deposit and first / last month’s rent 2.) Movers. 3) Rental truck 4) Utility deposits 5) Temporary living quarters such as a motel. Sometimes, if the homeowner agrees to move out immediately, they might pay a bonus. Be nice, helpful and truthful, and you could get lucky by receiving cash to leave.
Banks reach an agreement with the homeowner of a foreclosed home; the agreement stipulates that the home will be left in good condition and clean. The agreement usually sets a specific date that the home will be vacated, also a promise from the homeowner that they will not: 1.Vandalize anything on the foreclosed home. 2. Leave foreclosure pets behind. Some people are even leaving their animals in the homes when they leave and that really makes things worse. 3. Strip the foreclosure of light fixtures, appliances, copper, or anything that is affixed to the home.
People living in foreclosed homes need to figure out how much will help them move out, make sure you ask for a reasonable amount. You will be very surprised with what you can get. Banks who own properties after foreclosure would rather pay the former owners or renters $1,000 and give them 3 weeks to move out to avoid damage to the house. Also keep in mind the banks would also rather evict and sell a damaged house than give foreclosure victims $5,000 and 6 months to get out, so you need to be realistic about how much you are asking for.
Many banks will hire a real estate or property management agency to make the cash for keys offer. For example, you may be offered as little as $500, two weeks to move out and turn over the keys. This is very little to a family who has just undergone a financial hardship or sudden problems. If the cash for keys offer is low: you should call the agency back and ask for more money and/or more time. Cash for keys deals are 100% negotiable, up to a certain reasonable point.
There is some help out there you just have to look for it and see what you have available. Ask questions! That’s the only way you will find out about different programs that will help you through this bad time. I know that it’s not what you want but you have to rebuild and start somewhere with something.
Published in: Homeowners