Choose a Deed in Lieu of Foreclosure to Receive “Cash for Keys”
Don’t be left with nothing after your foreclosure is complete. Instead, choose a deed in lieu of foreclosure with your bank. Commonly referred to as “Cash for Keys,” this program is when your mortgage company gives you money to vacate your home at the end of the foreclosure process. Essentially, your lender agrees to give you money to avoid the cost and time of a foreclosure. The amount of cash the lender gives can vary widely but is often thousands of dollars.
How Can The Lyons Law Group, P.A., Help?
At The Lyons Law Group, P.A., in New Port Richey, Florida, we help clients who are dealing with an imminent foreclosure by facilitating the Cash for Keys program with their banks. We will attempt to convince your bank to offer you a large cash settlement at the end of the case. This money can often be a lifeline for my clients, helping them with moving costs and other expenses.
Typically, a Cash for Keys amount is negotiated at the end of a foreclosure. It can come after a foreclosure sale, as part of a short sale, or with a deed in lieu of foreclosure. You will not need to fix anything at all in your home. All you’ll need to do is leave it in “broom clean” condition, which essentially means that all of your personal items have been moved out and the floors have been swept and vacuumed. Depending upon your situation, you may find that a large Cash for Keys payment from your own bank can help save the day.
If you’re interested in learning more about the Cash for Keys program and if it’s the right option for your foreclosure situation, contact The Lyons Law Group today. We can schedule a free consultation at our office in New Port Richey, Florida.