Cash for
Keys
How Houston Cash-For-Keys Programs Work
As eviction and foreclosure defense attorneys in Houston, Texas, Jarrett Law Firm, PLLC understands the entire process to protect you and your credit through the cash for keys program
The Houston cash for keys program is simple and straight forward. You give the keys, deed, and possession of the property back to the mortgage lender/bank and in turn, as incentive to leave peacefully, they pay you cash. When you chose this option you also agree to forego fighting an eviction in court.
If this is the option you are considering there are a few things you must know.
What is in a cash for keys program in Houston, Texas?
If you have had enough and have decided your home is not worth keeping, you can try to acquire cash for keys in Houston, Texas with your lender. Cash for keys, in actuality, is a Deed in Lieu of Foreclosure. This is where the homeowner signs an agreement to surrender the deed of the property to the lender.
This is where it gets tricky. Any agreement for cash for keys in Texas should include a stipulation stating that the bank will not go after you for any deficiency judgment.
One thing to remember, the lender is not legally responsible to waive the remaining balance. In turn, you should have an experienced foreclosure attorney negotiate on your behalf to ensure that the bank cannot file a lawsuit for any remaining balance of the mortgage.
What is in a cash for keys program in Houston, Texas?
If you have had enough and have decided your home is not worth keeping, you can try to acquire cash for keys in Houston, Texas with your lender. Cash for keys, in actuality, is a Deed in Lieu of Foreclosure. This is where the homeowner signs an agreement to surrender the deed of the property to the lender.
This is where it gets tricky. Any agreement for cash for keys in Texas should include a stipulation stating that the bank will not go after you for any deficiency judgment.
One thing to remember, the lender is not legally responsible to waive the remaining balance. In turn, you should have an experienced foreclosure attorney negotiate on your behalf to ensure that the bank cannot file a lawsuit for any remaining balance of the mortgage.
Remember, you will lose any option to keep your home once you sign an agreement and you will have a fixed set date for leaving your home.
At Jarrett Law Firm, PLLC we offer free case evaluations and we would love to discuss your options and possible alternatives, plus, more information on cash for keys and other programs.
Our foreclosure attorneys here at Jarrett Law Firm, PLLC bring a powerful combination of legal and business experience and are ready to help you to remedy your situation.
Why Choose Us?
You must be outfitted with the most up-to-date information and know your Houston homeowner rights before making before making any agreements with your bank. It is good advice to always speak to an experienced foreclosure defense attorney before making any move or attempt to do this on your own.
Our attorneys are equipped with the skill, know-how and expertise to guide you through this intricate and complicated process.
Frequently Asked Questions
Can I get cash for keys in Houston, Texas if I do a deed in lieu of foreclosure?
If your lender has a cash in exchange for keys program, you need to complete a deed in lieu of foreclosure. Keep in mind that completing a deed in lieu of foreclosure does not guarantee you cash. Contact us immediately at (832) 831-0833 for a free foreclosure defense consultation or fill out our form.
What exactly is Deed in Lieu?
A deed in lieu is a transaction where the homeowner voluntarily transfers title to the property back to the the bank or lender in exchange for a release from the mortgage obligation. Fill out our free case evaluation.