Well having been through this myself recently in Bethany I would suggest you give me a call. Your not going to be able to solve this here online. A lawyer is not going to be able to do much. But with some luck you can pull this one together. Bless you folks. This is not fun!... more
Not impossible to find a home to rent. Many people only have 1 or 2 homes that you are renting. So best to look on Craigslist or another site that has a lot of rentals and find someone who is willing to hear you out. Not everyone renting a home is a big business - find a local owner.... more
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. Good to see lending options coming back.... more
I had a client get $10,000 to move after they lived rent free for 2 years with an attorney going to court every few months to ask who had the promissory note? Tom Inglesby Broker, RE/MAX Equity Group... more
Not sure of the question, but if you are facing foreclosure you will not be able to sell your house for money money than you owe unless someone is willing to step up and pay off all the debts on the property and that is probably more than the house is worth. If you just bought a house that was under foreclosure and now think you can auction it off for a higher price you will not really be able to do that either. So if you could explain what you are trying to do maybe we all could give better answers. The market is tight and buyers are smart so even with few listings the buyers are not buying property that is over valued.
Tom Inglesby, Broker
RE/MAX Equity Group
Cash for keys in a short sale situation only falls under HAFA rules. I usually don't self-aggrandize on these public websites, but I am HAFA-certified ands can at least tell you what your options area, if it's not too late.... more
Call each bank seperately and you want to talk to someone in the "Loss Mitigation Dept.", believe me if you are in the wrong department they will be happy to tell you. Find out from each bank what they are willing to do for you and even though you may feel like biting off their head and feeding it to them out of sheer frustration - DON't. at all times be humble and assure them you want to work with them. DO NO SIGN ANYTHING without first going to an attorney - have him look over the paper work and what you may see as a good deal could actually be a shafting.
When you deal with a bank that has title to your home - don't throw caution to the wind. I hate paying attorneys but I haven't found one whose advice I have not followed and they have gotten me out of a jam. A bank doen't want to talk to another bank because they figure "they are in the right" and they may well be and that is why you need attorney to give you the gist with what is happening without being driven completely crazy.... more
Since you have been discharged from the bankruptcy. Did that inclue having to pay your bank any more money? If the home is not yours free and clear - stay. If the bank fought the bankruptcy and you are suppose to pick up payments or at least negotiate for new ones or if you don't want to stay then cash for keys may work for you.
Cash for keys is a term that banks would prefer you didn't know anything about and for years they have kept silent about it. Now many banks are quick to initiate a cash for keys policy as standard procedure.
Cash for keys is a way for homeowners in foreclosure, or for tenants who are victims of foreclosure, to receive cash in exchange for surrendering the keys and vacating. Banks generally reach an agreement with the occupants of a foreclosed home, which stipulates the home will be left in good condition and cleaned. The agreements typically set forth a specific date that the home will be left vacant, including a promise from the occupants that they will not vandalize the foreclosed-upon home or strip the foreclosure of light fixtures, appliances, copper, etc.
The bank after forclosure is now responsible for the home. If the bank has to spend a ton of money to repair damage caused by the occupants, that money increases the bank's loss. It is really in your best interest to approach the bank humbly to get what you both want.
When you move out there are reasonable expenses you may expect to recover. Some of these are the following: A security deposit and first / last month's rent, Movers, Rental truck, Utility deposits and temporary living quarters such as a motel. If you agree to an immediate move out - some bank might pay a bonus.
It is really in their best interest to work with you and your bankruptcy discharge as nothing to do with cash for keys. They may want you out more than you know and it never hurts to just ask.... more