Georgia Foreclosure Specialist

On August 4, 2010 a letter was sent to the occupants (me) that the property is under foreclosure and has a sell date of September 7, 2010. The owner of the property transferred the property to a property management company on July 1, 2010 and refuses to respond to any of our phone calls. We told the property management company what was going on. They stated they haven’t heard from the owner and left it at that. We heard about the cash for keys program and wondered if we qualify for it. My wife is 7 months pregnant and we are in a serious bind now with this problem. Can anyone offer any advice…Please. Thank you!!

“Cash for Keys” gives cash to owners or tenants of homes in foreclosure in return of vacating the house and surrendering its keys. The agreement between the bank and occupants of the foreclosed property makes sure that it will be cleaned and left in good condition. Included also in the agreement are the date when the home has to be vacated and the occupants’ promise of:
Not vandalizing the home to be foreclosed
Not stripping copper, appliances, and light fixtures of the foreclosure
Not leaving foreclosure pets behind.

Knowing Why Banks Make such Payments

Banks may not be in the business of owning properties but once they take hold of the title of a foreclosed property, it holds them responsible for it. Meaning, if it would cost the bank lots of money to repair damages caused by the occupants, then it would mean an increase in the bank’s loss.

Sometimes, it is also costly and time consuming to get rid of a homeowner or tenant from a foreclosed home.

The Costs the Banks Pay in “Cash for Keys”

The total cost is negotiable. Banks do not usually offer “cash for keys” automatically, unless the occupant approaches them first. Moving out incur these expenses expected to get recovered:
Movers
Rental truck
Security deposit plus first or last month’s rent
Utility deposits
Temporary living quarters (example: motel)

Sometimes, banks pay a bonus to those who agree to immediately move out. However, extorting the bank can cause withdrawal of the offer. Occupants of foreclosed houses are given “Cash for Keys” for as long as they are courteous and pleasant.

More about this excellent program and how to apply – http://cashforkeysprogram.org/

Visit the City of Atlanta’s website, too, to see what programs might be available post-housing bubble. It’s in their interest to avoid creating a massive homelessness problem.

Don’t be shy about visiting churches, either. Biblitz alone has contributed a bundle over the years in the high hopes that it would be used in precisely these circs. There have certainly be times when I needed a boost and it just wasn’t available.

Sorry this is happening, but maybe the keys thing will work for you. I hope so.

I’m getting my licenses in about 2-3 three weeks and would like to see what options I have. I want a decent car but most dealerships and private sellers around here are a little to expensive. I have heard a lot about these auctions and the deals people get, but I have been unsuccessful finding info about them online. If anyone knows of a site that would have info about the auctions and cars being sold in and around Atlanta, Georgia let me know.

You can get good cars in government auctions. I did.
Here you will find out when and where these auctions take place in your area.
There is a 7 day trial membership coupon on the site.

http://best-offers-online.com/gov-auctions

Good Luck