Download Adobe PDF ReaderCash for Keys
Cash for Keys is a way for homeowners who are in foreclosure or for tenants who are victims of foreclosure (meaning this program also applies to investment properties) to receive cash in exchange for surrendering the keys to the home to the lender and vacating the home.
The agreement requires that the homeowner leave the property in good condition and clean, therefore, the cash is the incentive to do just that. The Cash for Keys program is very similar to the deed in lieu of foreclosure and recently, used together as an incentive for homeowners to mitigate their potential losses.