Has anyone heard of the Keys for cash program ?

Question

The Bank of My slimeball Landlord sent me some papers to sign was called cash for keys does anyone know if this is Legit and It states that i must be totaly moved out to receive the money can the hold the money from me if they chose at the day of move out

Answer 1

The lender wants you out of the premises as quickly as possible, and it is common for them to offer you some cash to make this happen for them.  It's quite legitimate, but you DO need to be completely moved out on the day agreed upon.

Answer 2

Is the property rental you reside in being foreclosed?  Usually the bank offers you keys for cash if the property is being taken over.  It is kind of a payment bribe to get you out of the rental.  The agreement is totally legal, but you must follow what the agreement says to the letter, or you won't get your money.  If you are in arrears on your rent, and the landlord is offering it to you, take it, and avoid being sued in court,and move out on the date stated in the paper.  

Answer 3

A lot of landlords due this to get tenants out without a hassle.  Keep a copy of the paperwork.  If they try to stiff you, sue them for it.  It is a legally binding contract.