I rented this house, and now is foreclosed. i'm being offered cash for keys, is this a good thing or not?

Madera
Other/Just Looking
Montclair, CA

I only been living here for about a month and a week, i feel that it was unfair for the owner to have rented this place, knowing already that he was going to lose it. what do i do now?

Answers (5)
Beth Walsh
Agent
Ontario, CA

Hi Madera, I think you should consider legal assistance with this. Accepting the cash for keys arrangement is a good first step. If the landlord knew the property was in default you should have been told this up front. the landlord should refund your entire deposit and pay storage and living fees while you find another property to rent. Definitely get legal help. here are links to Legal Aid in San Bernardino County. You may qualify for no charge legal advise at these clinics. http://www.legalaidofsb.org

Legal Aid Society of San BernardinoMore on this page
SAN BERNARDINO 354 W. Sixth St., San Bernardino Monday / Tuesday / Thursday: at 9:00 a.m. Wednesday Afternoon: Appointment Only 1st Wednesday Monthly: Walk-In /Eligibility Screening at 3:30 p.m.
3rd Wednesday Evening Monthly: Appointments Only
1st WEDNESDAY at 10:00 a.m. Rialto Community Center, 214 N. Palm Ave., Room 101, Rialto
Go to the pageBack: LEGAL AID SOCIETY OF SAN BERNARDINO. 2009 Clinic Schedule 909-889-7328 or 1-866-889-7328 (toll free) Focus: Family Law, Guardianships, Conservatorships, U.D. Answers ...

inlandlegal.org
http://www.courtinfo.ca.gov/selfhelp/other/landtenlinks.htm
http://www.dca.ca.gov/publications/landlordbook/index.shtml

Wed Oct 28 2009, 14:05
Willa M. Hines
Agent
Montclair, CA

Hi Madera,

I feel for you and your family, Unfortunately this is happening to alot of families in the Inland Empire area. I am a Realtor in your area and from my expreience it is best to take the first Option, {Cash for keys and cut you loses}. Contact Legal AID to see if you have any Legal Recourse.

My Office is in your area Contact Me and I will assist you in finding a New Place.


Look forward to working with you,

Willa Hines
Realtor
ERA New Century Realty
Montclair, Ca 91763

Fri Jun 19 2009, 13:09
Keith Manson
Agent
Milwaukee County, WI

The cash for keys is the way the lender tries to get a vacant property. The owner should not put you in this position. You might check what you options are in california, because some states give tenants more rights than others. If your state is more lienent you may be able to stay for your entire lease period.

The issue is that you will have to move, it is just a matter when and do you want money to assist you or do you want to spend your own money.

Good luck

Keith Manson
First Weber Group
CDPE Certified Distressed Property Expert
Greenfield, Wisconsin

Sun Apr 19 2009, 06:32
Dot Chance
Agent
Studio City, CA

Hi, Madera. I am so sorry this has happened to you. You are not alone - this is happening more often than you can imagine. I don't know if it is a good deal for you or not. I have seen banks in the last several months offer $2,000 - $3700 for cash for keys.

LawGuru.com is a forum for you to ask attorneys questions. That may be a good idea for you. If you have only lived there for a month then you have just paid a security deposit and I'm sure that is hard to let go of.

If you do not accept cash for keys I THINK they may have to give you a 60 day notice - you need to confirm this with an attorney.

Wishing you the best!
Dot

Web Reference: http://www.DotChance.com
Sat Apr 18 2009, 23:30
Blaison Samuel
Agent
Union City, CA
FIRST ANSWER

Madera,

If it's foreclosed then it will be your best option to get the cash and move to a different place otherwise you will lose that cash if the lender sends sheriff to evict you. You can always consult with your attorney also for suggestion.

Sat Apr 18 2009, 22:20

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