Our loan servicer has sold the servicing to a new company and I just spoke with a rep from the new servicer. It sounds like they may try to work out some type of cash for keys with us. I'm all for it as I know the foreclosure sale date is coming soon-no date yet, but from all the filed paperwork, I know it will be soon (we got the complaint some time ago-long story-chapter 13 converted to a chapter 7). We're looking for a rental, but trying to stick it out and save as much as we can. I say take the money and add it to what we've already saved and we'll have a nice little stash of cash. My husband on the other hand says no way. Let's just ride through the foreclosure. I know we're going to lose our home anyway in the next couple of months or so, so why not take the money. I know it's ultimately our decision, but what would you all do?
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It really depends on a lot of things, which would include, but are not limited to:
a) How much $$$$ would they be willing to offer
b) How fast foreclosures happen in your area and with the particular service provider involved
c) How far are you willing to go in order to stall the move-out date
Personally, I'd probably be riding the process for as long as I could, but that's me, and I'm definitely not the smartest guy around, or I wouldn't be where I am right now...
Good luck.No person in their right mind files a Ch. 13 with lien strip pro se. I have.Therefore, please consider me insane and clinically certifiable when reading my posts, and DO NOT take them as legal advice of any kind.Thank you. -
I thought cash for keys was offered AFTER the sale date usually?Comment
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