i live in a house that is foreclosed by the bank, how much do you think is the most money that the bank could

Asked by Andy214, New York, NY Thu Jul 30, 2009

give me?i live in queens NY and the house where i live is in foreclosed process, and the bank is offer me money for my keys how much is the most that the bank can give me? please answer me with honest and truly fact.

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Anna M Brocco, Agent, Williston Park, NY
Sat Aug 1, 2009
It will depend on the bank, and how badly do you want to remain until it is sold.
0 votes
Keith Manson-…, , Milwaukee, WI
Sat Aug 1, 2009
There is a maxium amount that is set by investors that can be paid for cash for keys. The $4500 indicacted in the previous response would seem on the high side. The reason the lenders offer this to occupants is to reduce the lenders expense in legal costs and cleaning out the home. Typically the offer for cash for keys is money that is to assist you to move not from profit from the transaction. Remember if you do not move prior to the eviction, the fact that you where evicted will be on your credit report/public record!

Good Luck

Keith Manson
First Weber Group
Certified Distressed Property Expert
0 votes
Janine Bowen, , Ulster, Greene, Dutchess and Orange Counties
Thu Jul 30, 2009
It depends. Generally they weigh the cost of having you evicted and taking the chance that you will vandalize the property or leave a large amount of damage and debris against having you moving willingly within 2 weeks and having the house broom clean, which means that ALL of your personal belongings are removed, closets, cabinets and floors are swept and free of debris and all personal items are removed from the grounds. The cash-for-keys agent will inspect the property once you move out and give you the check if everything looks as promised. I have never known them to give more than $4,500. If they go through the eviction they could put you out in a very short amount of time, move your personal items to storage or put them on the curb and you would not receive anything and would have to hire an attorney. Something is always better than nothing. Good luck.
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