Those homeowners behind in their mortgage may now be eligible for cash from their mortgagor to facilitate a short sale according to the Palm Beach Post.
Apparently, banks have discovered that the foreclosure process is long and that the condition of the home often suffers as the foreclosure process drags out.
So apparently in the state of Florida, Bank of America will offer "cash for keys" in some cases to encourage an owner under default to pursue a short sale.
Other banks may also be considering this option.
So if you know someone who unfortunately is going through the painful foreclosure process, let them know this might be an option.
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