Home Loans and Support

Altisource Cash for Keys - Need Advice

Discussion in 'Foreclosures' started by HenleyOT, Jun 14, 2012.

  1. HenleyOT

    HenleyOT LoanSafe Member

    My situation:
    Strategic Default in WA state (sort of, I maybe could have made the mortgage payments if I gave up food :notrust:)
    Sold at auction 6/8/12 after 13 months of missed payments.
    First Loan: Ocwen Second: BofA

    A pleasant man (really, no sarcasm) came to my door on Monday 6/11/12. He gave me a door hangar from Altisource that says to call them to see if I qualify for Cash for Keys. He also gave me a flyer from a local Contractor, Jeff F, that says he works for the bank and its his job to negotiate a vacate date to avoid the eviction process. The man said he worked for Jeff and I should call him.

    I called Altisource first. They said they didn't have authorization for CFK for my property in their system, call back in 2 weeks. I gave them my phone number. Called Jeff, told him about my call to Altisource. He also said call them in 2 weeks. I can't find any other posts on the net about Altisource delaying like that.

    I received a letter from Deustche Bank informing me of the sale and referring to the WA state law that gives them right to legal possession after 20 days on June 28th.

    I called Altisource again today, they again said call back in 2 weeks. So waiting two weeks means the discussion will take place on June 28th. Is there a chance I will be served a three day notice on June 28th and be locked out after those three days or would they need to go through a longer eviction process through the court? The CFK money would be great, but more importantly, I need as much more time as I can get. I've seen discussion about the eviction process in regard to CA. Is it the same for WA?
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Yes the eviction process for WA is about the same as that for CA from my understanding and you should still have some time to work on this CFK offer. It really does not make sense why they would send someone to your property to give you this letter if they are not yet able to discuss the deal for your home. Personally I would call Altisource back and request to speak with one of their managers and explain to them what is going on.

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