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  #1  
Old 11-12-2008, 10:22 PM
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Join Date: Nov 2008
Location: Oceanside, CA
Posts: 2

Offer to vacate information asap


What is the name of your state (only U.S. law)? California
My home was foreclosed on and the management company first told me that I had approximately 3 weeks to vacate and didn't know what they would offer me for my keys.
Than 5 days later they call me back with an unapproved offer of $1,000 if i leave in 9 days?
I have lived here for over 5 years. Don't I have like 60 days if they take me to court before they send the sheriff out? What is the max offer that they can give and time allowed to leave?
Please help with some solid answers I am beyond ready to drive off a cliff.
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  #2  
Old 11-12-2008, 10:39 PM
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Join Date: Apr 2007
Location: Somewhere over the rainbow
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They don't have to offer you a dime. However yes, they have to give you notice before they sue you for eviction and ultimately have the sheriff's lock you out. Once that happens, you'll have an eviction on your record and your chances of finding a decent place to live will be considerably harder... especially in this tight housing market.
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Old 11-14-2008, 09:18 AM
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When my company forecloses, the borrower has already been living there free for at LEAST 8 months, sometimes as much as two years, if there was a bankruptcy or it has acreage. One would think they'd start making some plans during the long wait for the FC to be final and bankroll at least a portion of the money they are not paying to their lender for the home they are occupying. We DON'T pay cash for keys to borrowers.

Understand that the rationale of Cash for Keys is to SAVE the lender money. And to save time. If eviction is less expensive and/or faster than the cash for keys arrangement, the lender would simply evict.

You are not a tenant- you are the owner? If so, don't presume they will pay anything. We only pay tenants cash for keys, not owners. WE do not want to create an incentive for borrowers to NOT move out on their own.
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Last edited by nextwife; 11-14-2008 at 09:42 AM.
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