Foreclosure Attorney’s have been working with their homeowners and renters on a bank initiated program called “Cash for Keys” The banks face some great struggles with homes headed to foreclosure including maintaining the condition of the home and having to get rid of tenants. The cash for keys program helps to ensure that home will be surrendered for cash amount agreed upon in exchange for home left in good condition and clean.
When the housing market went south, many homeowners were vacating their homes, gutting them of appliances and leaving them thoroughly wrecked. It eventually cost communities their safety as vagrants moved into the abandoned houses. Property values plummeted and by no other choice the banks who once kept quiet on the cash for keys policy now offered it as standard practice.
The program still exists today as we continue to wade through our housing crisis, though much improved!
An experienced Foreclosure Defense Attorney can be a great force in securing your cash for keys program when banks refuse to accept your offers. Homeowners have many responsibilities outside of the negotiations of their foreclosure property. The banks can and will continuously turn down offers, however, a Foreclosure Defense Attorney is skilled in these areas to achieve the needed result.
Call for a complimentary consultation with a Foreclosure Defense Attorney in West Palm Beach at James N Brown PA & Associates!