Comments on: Cash For Keys: Banks Paying Delinquent Borrowers So They Don’t Trash The House http://www.behindthemortgage.com/2008/03/cash-for-keys-banks-paying-delinquent-borrowers-so-they-dont-trash-the-house.html?utm_source=rss&utm_medium=rss&utm_campaign=cash-for-keys-banks-paying-delinquent-borrowers-so-they-dont-trash-the-house Alex Stenback | Twin Cities Blog on Mortgages, Rates, and Real Estate Thu, 05 Jan 2012 22:38:40 +0000 hourly 1 http://wordpress.org/?v= By: dave http://www.behindthemortgage.com/2008/03/cash-for-keys-banks-paying-delinquent-borrowers-so-they-dont-trash-the-house.html/comment-page-1#comment-874 dave Sat, 03 May 2008 01:17:19 +0000 http://dev.multiplycommunications.com/btm/?p=718#comment-874 Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert! More money lost in fraudulent cash for key programs. Some agents offer friends or strangers to participate in the cash for keys program even if there is no occupant in the residence. In return the resident splits the payment with friend or stranger. Example: An empty foreclosed home an agent offers a friend or stranger cash for keys even though the friend or stranger does not reside and never has resided at that residence. The previous owners of the foreclosed home never rented to the said cash for keys recipient. Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert!

More money lost in fraudulent cash for key programs. Some agents offer friends or strangers to participate in the cash for keys program even if there is no occupant in the residence. In return the resident splits the payment with friend or stranger.

Example: An empty foreclosed home an agent offers a friend or stranger cash for keys even though the friend or stranger does not reside and never has resided at that residence. The previous owners of the foreclosed home never rented to the said cash for keys recipient.

]]> By: dave http://www.behindthemortgage.com/2008/03/cash-for-keys-banks-paying-delinquent-borrowers-so-they-dont-trash-the-house.html/comment-page-1#comment-873 dave Sat, 03 May 2008 01:16:59 +0000 http://dev.multiplycommunications.com/btm/?p=718#comment-873 Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert! More money lost in fraudulent cash for key programs. Some agents offer friends or strangers to participate in the cash for keys program even if there is no occupant in the residence. In return the resident splits the payment with friend or stranger. Example: An empty foreclosed home an agent offers a friend or stranger cash for keys even though the friend or stranger does not reside and never has resided at that residence. The previous owners of the foreclosed home never rented to the said cash for keys recipient. Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert! Fraud alert!

More money lost in fraudulent cash for key programs. Some agents offer friends or strangers to participate in the cash for keys program even if there is no occupant in the residence. In return the resident splits the payment with friend or stranger.

Example: An empty foreclosed home an agent offers a friend or stranger cash for keys even though the friend or stranger does not reside and never has resided at that residence. The previous owners of the foreclosed home never rented to the said cash for keys recipient.

]]> By: Gideon7 http://www.behindthemortgage.com/2008/03/cash-for-keys-banks-paying-delinquent-borrowers-so-they-dont-trash-the-house.html/comment-page-1#comment-872 Gideon7 Wed, 09 Apr 2008 20:00:50 +0000 http://dev.multiplycommunications.com/btm/?p=718#comment-872 In MN the bank can't evict the tennants until 6 months after the foreclosure sale. This is called the 'redemption period', which by MN law allows the original buyer a chance to buy back the property. The buyback almost never happens (since no bank will give a loan to someone who just defaulted) so it basically just gives a free 6 mo period to squat and trash the place. In MN the bank can’t evict the tennants until 6 months after the foreclosure sale. This is called the ‘redemption period’, which by MN law allows the original buyer a chance to buy back the property.

The buyback almost never happens (since no bank will give a loan to someone who just defaulted) so it basically just gives a free 6 mo period to squat and trash the place.

]]> By: MT http://www.behindthemortgage.com/2008/03/cash-for-keys-banks-paying-delinquent-borrowers-so-they-dont-trash-the-house.html/comment-page-1#comment-871 MT Sat, 29 Mar 2008 14:19:49 +0000 http://dev.multiplycommunications.com/btm/?p=718#comment-871 How about what is says about society? I know that the actions described in the article aren't representative of all homeowners, but I for one was embarassed by the people described in the article. They bought something they can't afford, they lose that asset, and their next action is to attempt to ruin it for the new owner? I wish the article at least made mention of how disturbing that behavior is. How about what is says about society? I know that the actions described in the article aren’t representative of all homeowners, but I for one was embarassed by the people described in the article. They bought something they can’t afford, they lose that asset, and their next action is to attempt to ruin it for the new owner? I wish the article at least made mention of how disturbing that behavior is.

]]> By: Nate http://www.behindthemortgage.com/2008/03/cash-for-keys-banks-paying-delinquent-borrowers-so-they-dont-trash-the-house.html/comment-page-1#comment-870 Nate Fri, 28 Mar 2008 18:08:38 +0000 http://dev.multiplycommunications.com/btm/?p=718#comment-870 hmmm... So banks loan money to people who show no ability to repay so that they can buy a house. House depreciates, people default, and the banks now offer more cash to these people so they don't damage the collateral? I hate to say it, but the banking industry is increasing my respect for loan sharks, at least they now how to run a business. hmmm…

So banks loan money to people who show no ability to repay so that they can buy a house. House depreciates, people default, and the banks now offer more cash to these people so they don’t damage the collateral?

I hate to say it, but the banking industry is increasing my respect for loan sharks, at least they now how to run a business.

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