Cash for Keys in Long Island

Foreclosure and Cash for Keys

If your home is in foreclosure, or you are a tenant that is the victim of your landlord going into foreclosure, you may be able to get cash for keys from the lender. Contact a Long Island foreclosure defense attorney today to discuss your options and find out if you could make this arrangement. Cash for keys is the term used when a lender makes an agreement with the occupants of a foreclosed property that allows them a certain amount of money to help them move out and surrender their keys by a certain date and keep the home in good condition. Lenders do this to avoid the court fees of evicting an occupant as well as the fees incurred if a home is vandalized or stripped of fixtures. If you are the occupant of a foreclosed home, it is essential that you contact Blutter & Blutter today to find out more about the process. If you are the owner of the property, managing your foreclosure is an important issue and all of your loan documents should be evaluated immediately for possible options to defend against the foreclosure process.

Most lenders will come to an agreement with occupants in order to have a peaceful, and vandalism-free transfer of ownership on the property. Lenders will usually require that you leave the home in good condition, leave all fixtures in place, and take all pets with you when you leave. In return, lenders will sometimes pay for everything from movers and a moving truck, first and last month's rent on a new residence, and even the cost of a motel if you do not yet have a new place to move into. Working with lenders in this situation is an advantage in certain cases, and should be explored along with other potential opportunities for you.

Contact a Long Island foreclosure defense lawyer today to find out more about "cash for keys".