|
Thursday, November 10th, 2011
Foreclosure and Ca$h for Keys
|
|
Cash For Keys
Cash for keys, does it let the home owner keep some dignity?
I've been in the Real Estate industry for quite some time (almost eleven years) and I have seen my fair share of the effects of foreclosures.
When I go view the now vacant homes that were once someone’s pride and joy I still get a little sad knowing that this was once someone’s dream and now it’s an empty shell that tells a story of the family that once lived there. I walk into a bedroom with purple painted walls and flower decals on the wall ad you know it was once a room fit for a Princess, down the hall you enter a room that has blue walls and sports decals on the wall know a little boy dreamed of being a baseball player. The Master bedroom where it was once a beautiful get away for the couple but towards the end it was less beautiful and more wanting to get away.
This is something many agents have seen; the sad effects of the horrible economy but as agents we are hopefully that this home will provide happiness for another family.
Money is tight for many people and offering homeowners cash for keys to help them move from their 4 bedroom 2 baths 2 story home into a cozy 2 bedroom 1 bath home doesn't seem so bad, Right?
www.WerthTeam.com or www.AppletonProperties.com 920-702-0162
|
Posted by: The Werth Team, Mike & Jean at 3:42pm
|
|
|
|
I've seen my share of foreclosures as well. What are the Cash for Keys rules? I recently closed a 203K on a home where the former owner was given a check under Cash for Keys, but he took the heat pump, air handler, water heater, fireplace, gas logs, all kitchen cabinets minus the sink cabinet and still got the $2,000 check to leave the property. I feel this just cannot be in the Cash for Keys rules (all of these were in place when the original loan was made to him). What are the rules when it comes to property condition?