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View Full Version : Keys for cash.



marooko
04-11-2010, 07:32 PM
What do you know about this? Any experience, insight, suggestions?

jimmycrackcorn
04-11-2010, 07:43 PM
i definitely think a kilo is overkill...

Sleepingrock
04-11-2010, 10:22 PM
Don't get shot up!

marooko
04-11-2010, 10:46 PM
Cash for keys.

marooko
04-12-2010, 08:58 AM
Nothing then?

frozen pilgrim
04-12-2010, 09:04 AM
don't know what it's about- clue me in?

menikmati
04-12-2010, 09:09 AM
http://tinyurl.com/y7d46hv

marooko
04-12-2010, 09:10 AM
The house I rent has been foreclosed. I need to move. The bank wants me to call them to see what I'm gonna do. My options are:

Move ASAP with possible money offered
Sign a possible new lease with them
Stay here month-to-month until i find a place
Be legally asked to move. Supposedly it isn't an eviction

marooko
04-12-2010, 09:10 AM
http://tinyurl.com/y7d46hv

This could work in just about every thread made here. Don't quite see the point.

menikmati
04-12-2010, 09:17 AM
Oh Marooko, you switched Keys with Cash, should have been the other way around....I thought you were wondering about signing up for a data entry job to make money on the side...my bad!

faxman75
04-12-2010, 09:22 AM
The house I rent has been foreclosed. I need to move. The bank wants me to call them to see what I'm gonna do. My options are:

Move ASAP with possible money offered
Sign a possible new lease with them
Stay here month-to-month until i find a place
Be legally asked to move. Supposedly it isn't an eviction

How many payments behind is it? You usually have anywhere between 3 months and a year before the actual "sale date" and you can live there without paying until the sale date, so save up a bunch of cash and move on.

I assume the move ASAP with money offered is the "quick sale" option. You or whomevers name the house is in would be responsible for any difference in what cash you get and the remaining balance on the loan unless of course it's paid in full but if that was the case the bank wouldn't be hounding you.

I would consider saving as much money as possible up until the sale date of your house and then moving and having a nice chuck of change to do so.

Just be aware that this will be a forclosure on your credit report. If the bank is willing to work with you and it sounds like they are then negotiate whatever affordable price you can and avoid the negative credit and forclosure.

JustSteve
04-12-2010, 09:26 AM
he is renting the house, not an owner.

faxman75
04-12-2010, 09:36 AM
Ah, I see that now, eyes went right over the word rent and right to forclosed. If you are just a renter why are they offering you money to move? I've never heard of that. In fact in Arizona craigslist is full of housing scams where people whose homes are in forclosure rent out for the big move in costs and deposits and the renter ends up screwed when the law shows up to kick them out a few days later.

So marooko, weight the options, how much are they offering you? How much are they willing to rent or lease it to you for? What can you afford? Only you would know your financial situation and what you can afford.

JustSteve
04-12-2010, 09:53 AM
Ah, I see that now, eyes went right over the word rent and right to forclosed. If you are just a renter why are they offering you money to move? I've never heard of that. In fact in Arizona craigslist is full of housing scams where people whose homes are in forclosure rent out for the big move in costs and deposits and the renter ends up screwed when the law shows up to kick them out a few days later.

So marooko, weight the options, how much are they offering you? How much are they willing to rent or lease it to you for? What can you afford? Only you would know your financial situation and what you can afford.

that happened to our next door neighbors. the scummy owner, who at one point ran a sub prime motgage co. out of the place moved people in a few weeks before the bank took over the property, and he knew full well what he was doing. one night he came over at 11pm demanding the following months rent. 3 days later the bank was knocking on the door telling the tenants they had to be out. i believe by law they were allowed 3 months to do so, though. i hope the owner of the house has lost his family and all his money, he was a cocksucker.

faxman75
04-12-2010, 10:00 AM
Yep, it's crazy how common it has become. We were looking into renting and checking craigslist like crazy and hearing about the scams made us get an actual realator to help find a rental so we wouldn't be scammed. Then ultimatley we just decided to stay in our current apartment for another 6 months.

Good luck Marooko.

marooko
04-12-2010, 10:29 AM
Thank you.

I was just curious if anyone had any insider info or first hand experience.

I just called the place and the "eviction" process has been started. I do have the 90 days, but they are offering money for us to be out before that. They want us to sign an agreement though, I don't feel good about that. That's where the insider/first hand info comes in. Should I get a lawyer?

I say "eviction" because I also heard that, in a case like this, it isn't an actual "eviction", we're just being asked to leave. This being the case, it supposedly doesn't go on your credit report. Anyone have any details on this?

PotVsKtl
04-12-2010, 10:50 AM
You'r renting a room in a building that has been foreclosed. There's no longer a room available. You have to find a new room. Is there some confusing portion of this situation I'm missing?

marooko
04-12-2010, 10:57 AM
A lot. Too much to explain. Reread.

PotVsKtl
04-12-2010, 10:58 AM
No, I read it all. I think my summary fits the bill pretty well.

SFChrissy
04-12-2010, 11:00 AM
Here's the deal...The real estate agent representing the bank that foreclosed wants you to get out so they can resell. They want to do it as quickly and hassle free as possible without having to take you to court for legal removal (this is a cost to the them). You are currently in limbo, essentially you don't have to pay rent because your agreement is with the landlord who defaulted, the bank wants you out ASAP and will pay you off "cash for keys" for their convenience. The average is $2000 and they want you out in 30. Because your landlord has your deposit you can take him to court for the refund of your deposit but he may have filed bankruptcy which excludes you from any collection. Cash for keys is their way of getting you out quickly, avoiding hassle of going to court for an "eviction judgement"...

marooko
04-12-2010, 11:13 AM
No, I read it all. I think my summary fits the bill pretty well.

No, you're just an idiot.

PotVsKtl
04-12-2010, 11:43 AM
Because you can't decide whether to wait or to take some cash and move now? Those are your two astounding options. Go weigh them and get back to me.

marooko
04-12-2010, 11:48 AM
The options aren't the issue, but you can't seem to get past that.

faxman75
04-12-2010, 11:51 AM
I thought your question was all about the options?

marooko
04-12-2010, 12:23 PM
The options are listed, as a statement, not a question. I'm curious if anyone does this kind of thing for a living, or has dealt with it first hand. I need actual experienced people, not opinions. My concern involves law, not that fact that I have to move. I know the law says I have to move, that isn't the question either. Thank you for the help.

End Thread.

shoegazer76
04-12-2010, 12:56 PM
Here in Vegas there is a scam goin around. I don't exactly know how it is set up but here is the just. You go to look at a house to rent. The house (usually a foreclosure) has been broken into & the locks changed. They advertise it on craigslist for rent. The fraudulent landlord meets with you & insists on a deposit when you decide to rent the house. They have the paperwork & everything to make it look legit. They usually get you for a grand or more. Come to find they don't own the house the land or anything. They of course disappear never to be seen again. A person I know actually busted one of these scammers after his money was handed over. He set up a sting with the cops. The fake landlord was arrested. The cops wanted to know how he figured it out. He simply told them you cant con a con. They wanted to recruit him to bust others scammers but he declined because the money wasn't good enough.

Corporate Cannibal
04-12-2010, 02:06 PM
don't know what it's about- clue me in?

sorta like "Cash for Clunkers" with "clunkers" being Alicia Keys CDs.

justinaqui
04-13-2010, 04:33 PM
This happened to me right before our lease was about to end. They offered us a whole month's rent to leave a month early, and it just meant I got to move in to my new house a month early. I try to take free money whenever it's available.