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Lender's Giving Cash To Homeowners In Foreclosure For Keys.

By
Services for Real Estate Pros with Crescent Moon Realty, Inc. & Land N Sea Auctions.

Yes, this is now happening, lenders are trying to stop homeowners from destroying their property before the lender forecloses. These lenders state that if the property is in good condition when foreclosed upon they will reward the former borrower. The amount can range from a couple of hundred dollars to several thousand depending on where the home is located.

I know that many of us have seen homes that are completely destroyed and many times the REO agents are just putting a band aid on the issues that they have to deal with. It seem that these lenders are trying to avoid exacerbating what challenges come along with a home that is foreclosed upon.

This is an interesting way to keep the homes from going into decline.

 

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Find out the benefits to selling or buying a home traditionally or non traditionally ---Contact us @ 1-760-650-2157 Or visit our websites @ www.LandNSeaAuctions.com or CrescentMoonRealty.biz.

Lorraine or Loretta

Comments (5)

Jan Wood
None - Gallatin, TN
I can't believe the condition of some of the homes in foreclosure.  Money talks so I guess this is the only way the lenders could figure out how to put a stop to some of the destruction.  
Apr 12, 2008 02:47 AM
Peter Wolf
Coldwell Banker - Valley Village, CA
Unfortunately, when people are depressed and angry they have to find someone to blame.  It is rare that we point at ourselves.  Banks are taking it on the chin (in some cases deservedly so).  We'll be seeing this type of stuff for awhile.
Apr 12, 2008 05:40 AM
Lorraine or Loretta Kratz
Crescent Moon Realty, Inc. & Land N Sea Auctions. - San Marcos, CA
Certified Negotiation Consultants

Jan:

It seems that this market is producing all sort of strange and unbelievable turn of events.

Peter:

I wonder if it will work. Thanks for the comment.

Apr 12, 2008 09:01 AM
Stephen Luckett
ExecuHome Realty-LuckNet Real Estate Group - Dundalk Sparrows Point, MD
This is interesting, I have not seen or heard of this yet. I have had investors offer cash to help a tenant move with property destruction but never the lender.
Apr 13, 2008 01:37 AM
Lorraine or Loretta Kratz
Crescent Moon Realty, Inc. & Land N Sea Auctions. - San Marcos, CA
Certified Negotiation Consultants

Stephen:

I know when I read the article I was somewhat taken aback. The jest of the article was that so many of the foreclosed on homes are abused and the lenders are trying to avoid the borrower doing anymore damage.

Apr 13, 2008 04:12 AM