Helping Clients Receive Cash for Keys at the End of a ForeclosureIf your home is being foreclosed on, you might be worried that you’ll be left with nothing at the end of the process. That doesn’t always have to be the case. Depending on the circumstances of your foreclosure, you may be able to take advantage of a program commonly known as “cash for keys,” where the bank gives you money (often thousands of dollars) in exchange for you leaving the property in broom-swept condition when you vacate. If you pursue this option, you won’t need to worry about making any repairs to your home—all you’ll need to do is move out by a specified date and leave the property in satisfactory condition.
Why Would a Bank Offer Cash for Keys?
In many cases, someone who is facing an imminent foreclosure will retaliate against the lender, either by refusing to leave the property or by vandalizing it before vacating. By offering cash for keys, a bank can avoid the time and expense associated with evicting the previous owner or making extensive repairs.
What Can We Do to Help?
When you partner with the skilled attorneys at The Lyons Law Group, P.A., we’ll do everything we can to help you avoid being foreclosed on in the first place. But if foreclosure can’t be avoided, you can rest easy knowing that we have extensive experience helping clients obtain compensation through cash for keys agreements. If cash for keys is appropriate for your specific circumstances, we’ll advocate on your behalf to help negotiate a cash settlement with your lender.
If you’d like to hear more about cash for keys and whether it’s a viable option for your situation, contact The Lyons Law Group, P.A., today and ask to schedule a free consultation at either of our locations—we have offices in Pasco County and Hernando County. We’ll be happy to tell you more about what cash for keys involves, as well as how it differs from a deed in lieu of foreclosure.