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Labor & Employment Law

: The Law Planet Blog

Foreclosures: Cash For Keys Program and the Banks

By Dobin & Jenks

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The five biggest US mortgage servicers are considering a cash for keys program that would pay delinquent borrowers money to leave their home. Is this a new play to lure people from their owns and steal the property with a carrot? Last week, the number tossed around was $21,000 to delinquent homeowners. Regulators and Banks are trying to agree on a solution. The FDIC chaired the meeting last week and stated that the cash for keys program would involve the biggest servicers, such as Bank of read more

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Full post as published by The Law Planet Blog on March 28, 2011 (boomark / email).

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