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If you lose your home to a foreclosure sale, the new owner might offer you a lump-sum of money to voluntarily move out. This kind of transaction is called “cash for keys.”

People who go through a foreclosure can do a remarkable amount of damage to a house if they think the process was unfair or that the new owner is acting unreasonably. Also, the legal process to evict someone from a foreclosed property is often costly and time-consuming. So, to incentivize the former homeowners to move out peacefully and voluntarily, the new owner sometimes offers them a lump-sum of money. This type of transaction is called a “cash-for-keys” deal. Summit Property Locators can also refer you to a Attorney who could delay the pending Eviction.