Posts with tag cash for keys

It's not mortgage principal reduction, but it's a start. Bank of America is quietly rolling out an incentive program in parts of Florida in which they'll pay distressed homeowners up to $20,000 if they successfully short-sell their home, according to The Palm Beach Post. A short sale is an arrangement in which the lender... Continue Reading »

Renters now have legal rights against eviction due to foreclosure, but not necessarily housing security. New laws give renters a reasonable 90-day notice of foreclosure eviction and, in most cases, protect their lease agreement. However, both of these safeguards still can be circumvented. While the foreclosure laws... Continue Reading »

Underwater on your mortgage? Thinking about asking your lender to sign off on a short sale, or even just mailing back the keys? If you've tried to request clearance for a short sale, you know that most banks have hesitated to give an OK to borrowers who want to bail out for less than their property is worth. But thanks to... Continue Reading »