Foreclosures: Cash For Keys Program and the Banks
The five biggest US mortgage servicers are considering a cash for keys program that would pay delinquent borrowers money to leave their home. Is this a new play to lure people from their owns and steal the property with a carrot? Last week, the number tossed around was $21,000 to delinquent homeowners. Regulators and Banks are trying to agree on a solution.
The FDIC chaired the meeting last week and stated that the cash for keys program would involve the biggest servicers, such as Bank of America. This incentive would try to lure homeowners away from their home with small amounts of cash, instead of stealing it with fake documents signed by robo-signers.
Our Florida Foreclosure Defense Lawyers, have seen a lot of creative tactics presented by the banks to clear up the Florida foreclosure crisis. This new plan is one of the all time most creative that plays into the banks favor most of time.
If you are facing foreclosure and have been struggling with a mortgage modification approval, with red tape from the bank, contact an experienced Florida Foreclosure Defense Lawyer to discuss you best options. This will save you headaches and frustration, since the banks are always try to make the situation worse for homeowners facing foreclosure.
An experienced Foreclosure Defense lawyer can help you consider which option is best for you if you are delinquent in your mortgage/ There are options such as, Mortgage Modification, Deed in Lieu, Short Sale, Foreclosure Defense, Foreclosure Offense,a href="http://www.labovick.com/lawyer-attorney-1549959.html">Bankruptcy, among many others.
Click on the following links to read more on Foreclosures: Cash for Keys Program"
US Banks in Cash For Keys Program Talks - Financial Times
Will Cash For Keys Fix the Foreclosure?
Cash for Keys Aids Home Borrowers
Brian F. LaBovick, Esq.
Esther Uria LaBovick, Esq.
Mark R. Hanson, Esq.
Joseph R. Fields Jr., Esq.
Marcie Dodson, J.D.