cash 4 keys help

[roa625]

i finally got a notice from a real estate agent that they are selling the home for the lender.i asked for 5k for cash 4 keys.she said it was too much and never seen that high amount given.then she states shed call the lender and get back to me in a few days.
well..she called the very next day.she stated her assett manager not the bank is offering 1000 4 30 days or they start eviction.
like i told her thats not enough to clean the property(big property) find a rental and moving expenses.im thinking these guy get an c4k amount and then offer the owner peanuts and pocket the rest.maybe im wrong but i feel somethings not right.i need all the feedback and experiences needed thanks

[ultimate4799]

Hi roa625, I hope someone can shed some light on this asap. I too, is real close on my auction and would love to hear from experienced guys.

[Evan Bedard]

well..she called the very next day.she stated her assett manager not the bank is offering 1000 4 30 days or they start eviction.
like i told her thats not enough to clean the property(big property) find a rental and moving expenses.im thinking these guy get an c4k amount and then offer the owner peanuts and pocket the rest.maybe im wrong but i feel somethings not right.i need all the feedback and experiences needed thanks

Lenders generally only offer around 1-3k tops for cash for keys..

[homesweethome]

Originally Posted by roa625

i finally got a notice from a real estate agent that they are selling the home for the lender.i asked for 5k for cash 4 keys.she said it was too much and never seen that high amount given.then she states shed call the lender and get back to me in a few days.
well..she called the very next day.she stated her assett manager not the bank is offering 1000 4 30 days or they start eviction.
like i told her thats not enough to clean the property(big property) find a rental and moving expenses.im thinking these guy get an c4k amount and then offer the owner peanuts and pocket the rest.maybe im wrong but i feel somethings not right.i need all the feedback and experiences needed thanks

That is the same deal I posted in another fourm, I want to negotiate five thousand and move in 90 days. I did not know my home was sold until the first realtor showed up at my door on Oct 12th, telling me my property is to be sold on the 13th (next day). Does anyone know the longest on can stay in the property until you are evicted, my property reverted back to the bank. My attorney keeps telling me they are working on why the sale took place in the middle of my trial mod...

[roa625]

Originally Posted by ultimate4799

Hi roa625, I hope someone can shed some light on this asap. I too, is real close on my auction and would love to hear from experienced guys.

now they upped their offer to 1500 but be out by oct 31.
when i spoke to the lender they stated they use to give 3-5 k for c4k but with the foreclosures rising they cant offer that no more.
i hope this helps to anyone experiencing this.
the banks are getting tighter,and now theyre threatening with either take the c4k or get forced out(eviction,no c4k).in a way its best to take the offer,they get pretty upset and start eviction threats.

[Evan Bedard]

Thank you very much ROA for sharing your experience.

[cleach]

My auction was 10/6 & I still haven't even heard ANYTHING! I'm hoping for 3K cash for keys.

Hope you get what you need!

[motorcitymadness]

I know the laws vary from state to state. In Michigan after the date of sale you have 6 months ( Yes 6 Months) to work with your lender before they can evict you. Even after that you have a 60 day grace period to get out. Although, many people are not aware of this they are being solicited for cash for keys offers without knowing their options. If you live on more than an acre and a half you have 12 months before you are evicted if you cannot find a resolution with your lender. Check your state laws before you hand your keys over. If you want to keep your home you still have options... Good luck and I hope this bit of info helps somebody save their home. Keep fighting!

Motor

[Harry Seaward]

You have to understand why they are offering cash for keys.
They want to make sure you don't strip (or trash) the home when you leave.
It seems to me the most effective way to negotiate is to make a list of every upgrade you purchased for the home and then calmly say "this is what I put into this house and I'm going to need similar items at my new home. If I don't take the ones here I'm going to need money so I can buy new ones." You're just stating a fact that they can either respond to or ignore.

The Dept. of Treasury gives $1,500 directly to the homeowners and $1,500 to the lenders to complete short sales or deed in lieu. I know it's not the same thing as a trustee sale, but it was born from the same principal which is they don't want you to trash the house when you leave and I think $2,500 is a reasonable amount to expect from cash for keys negotiations.

[trappedincali]

My C4K story is long winded and was a pain in the @ss, I might post it after I actually receive the check since I don't want to hex myself. I signed the papers yesterday for $4000 if out by Oct 30th. House was auctioned off on Oct 1st.

-Lee

[movingon]

Originally Posted by cleach

My auction was 10/6 & I still haven't even heard ANYTHING! I'm hoping for 3K cash for keys.

Hope you get what you need!

We have made no payments since July. I assume the house will go to auction some time in December....??? Do you get a letter telling
you when it is going to auction? I am trying to figure out my time line and want to stay in house as long as possible. Let me know on
what you get for cash for keys too. Thanks!!! movingon

[cleach]

Yes, we got a letter from the attorney's office with a copy of the "ad" for the newspaper, and the date of the auction. It was postponed from the original date of 9/1. So, they'll definitely notify you - but - it was 11 months from the time we made our last payment until it was sold; you may very well have much longer than December!