As an REO agent, I have presented Cash For Keys proposals and consistently found mortgagors happy and relieved to find an alternative to the kind of forced eviction many pictured when they found themselves in trouble with their loans. Like other interactions with distressed homeowners, this conversation must be approached with sensitivity and empathy, but I haven’t found any resistance at all.
Realtor®Mag reports that the use of cash for keys is expanding:
I have not personally experienced a cash for keys offer in a short sale situation, but it makes complete sense. Done right, it could certainly be the best end to a bad situation for everyone concerned.