Foreclosure in 33186>Question Details

elsaandcesar, Home Owner in Miami, FL

Is there a Cash for keys program at Deutsche Bank National Trust company?

Asked by elsaandcesar, Miami, FL Fri Jul 13, 2012

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Irina Karan’s answer
Hello Elsa and Cesar,

There are different cash for keys programs.
One - if you do HAFA short sale, you might get money from participating lenders.
You have to qualify for the program.
Two - I had a regular short sale where the lender agreed to give the seller some move out expenses - also called cash for keys.
Three - Deed in Lieu of Foreclosure (DIL) - you give up the house and get some money from the bank.
Four - tenant gets the money in REO/foreclosed property. You have to have 1 mortgage only for this one.

Without knowing which one you mean, you can call Deutsche Bank directly and talk to their short sale department (it takes care of most situations).

Whatever you are considering - the only "good" option is a short sale.
DIL is truly a foreclosure in the eyes of your future lenders (mortgage and car) - as for the rest of your life you'll be answering "yes" to the question of foreclosure. You won't be able to get a government job either (requires no foreclosure or bankruptcy).

To discuss more specifically, please contact me off line.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Tue Aug 7, 2012
elsa and cesar,

If you're underwater, rather than waiting for the foreclosure to happen to you, try a short sale. Give me a call and we can discuss in more detail. It's really not difficult to get multiple offers within a week, if you put the proper price on the house.

Ann
0 votes Thank Flag Link Sat Jul 14, 2012
strange question. Cash for keys is not specific to any bank. It is incentive for the occupant of a home to vacate after foreclosure. If you are NOT foreclosed, then there is no cash for keys offering. If you are trying to do a short sale, and are referring to incentives by banks that are paid at closing, then that is bank specific. It can sometimes be negotiated, but its usually offered up front as an incentive.
If you would like to explain your situation further, you are welcome to contact me directly.
0 votes Thank Flag Link Sat Jul 14, 2012
Your question has already been answered
0 votes Thank Flag Link Fri Jul 13, 2012
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