Cash for Keys
What is a Cash for Keys negotiation?
A Cash for Keys negotiation is an agreement made between the lender and the borrower where the lender will actually pay the homeowner to vacate the home in a timely fashion without destroying the property. The lender usually does this to avoid incurring the additional expenses involved in evicting homeowners. Cash For Keys is one of several Loan Modification Services provided by Foreclosure-Shield.com.
What is Loan Modification?
Loan modification is a service whereby a homeowner's mortgage is modified and both lender and homeowner are bound by the new terms. The most common modifications are a lowering of the interest rate, reducing the principal balance, 'fixing' adjustable interest rates, increasing the loan term, forgiveness of payment defaults & fees, or any combination of these. Foreclosure-Shield.com’s Loan Modification specialists can help you determine the best modification option for your unique situation. Please fill out the form to the right so that we can begin the evaluation and help you fight foreclosure.
Will my Lender Modify My Loan?
Yes, your lender will work with you. The Foreclosure process is costly for everyone involved, including your lender. So because of bank failures, the FDIC (Federal Deposit Insurance Corporation) created procedures for banks to workout troubled loans with their borrowers. Modifying loans makes them affordable and reduces the amount of foreclosures.