I am in foreclosure, sale date is in 27 days. lawyer for bank says I cannot offer cash for keys til eviction. Am I getting run around?

Asked by Alonna, Bourbon, MO Tue Mar 15, 2011

Trying to avoid eviction, but banks lawyers say wait til eviction to offer C4K?

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Diane Wheatl…, Agent, Upland, CA
Wed Mar 16, 2011
Dear Alonna,

If you are in foreclosure and the sale date is scheduled in 27 days then no one will know for certain who the new owner will be until the auction has concluded itself. The bank may be taking the property back if no one bids on it or a private party may bid on the home and become the new owner.

So for you to ask the lender now for cash for keys is premature. You want to wait until you are approached by the new owner regarding the outcome of the sale and what their expectations are in regards to your vacating the home. At that point you may strike a deal to agree to vacate on a certain date in exchange for cash for keys. But until then, no. Just wait.

Hope that helps!

Diane Wheatley, Broker
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Wishiknew, Home Owner, Orange County, CA
Wed Mar 16, 2011
If they won't offer you that option and you want to stay around a little bit longer, you can always use the Trustee Verification process to get yourself an extra 6-12 months of stay. My neighbor has used it and it works. You can go to this website to find out more about delay of trustee sale and eviction process. wwwlhcginc.com Good luck!
0 votes
Frank Sandov…, Mortgage Broker Or Lender, San Francisco, CA
Wed Mar 16, 2011
A foreclosing lender has no obligation to offer you any payment either before or after the foreclosure is complete in order to have you vacate the property.
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