Does BOA offer Cash 4 Keys?

I’ve had limited interaction with Bank of America. And what I have had has never been favorable.

I am aware of how Fannie handles posting of the KYO form and cash for keys documents.

I have a friend renting a local home, a letter came in the mail today stating that foreclosure proceedings have begun and will expect occupant to vacant the home prior to HUD taking the house over. (60 to 90 days)

Then the letter states that if HUD does not take it over there will be other options.

My question is will this tenant experience a knock on the door by an agent requesting cash for keys agreement?

Or if HUD does take the house over, will HUD offer a cash for keys?

Or will there be a cash for keys of any kind offered?

I thank you in advance.

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  • B of A will offer C4K to tenents in most cases. The lease is real important.

  • Does your friend have a lease, or rent receipts? If so he/she is a "bona fide" tenant then she/he is protected under PTFA Protecting Tenants at Foreclosure laws. BofA will typically honor the lease until the end of term, but someone will contact the occupant and inform them who is managing the property & where to send rent checks. They may offer relocation assistance, or just wait until the lease is up, or market the property with the tenant in place, depends on the AM.

  • Do you typicaly pay an occupant cash for keys money if they agree? And will BOA talk with the tenant? I've had her call and BOA will not discuss anything with her regarding the move out. Thanks William I do appreicate your help
  • B of A does offer Move Out Agreements . If no one answers the door I typically post a note on the door requsting a call. B of A negotiates with the goal being the protection of the asset.

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