Cash for Keys question.

[adviceplease]

We are in Michigan and our house sold at sheriff sale in December, we have till the end of June to move out. The real-estate company that is working with the lender sent us a letter about doing a short sale on the house but that has been the only contact with them. We decided to start looking for a rental in April and found a great realtor to help us find a new home, but....they work for a different branch of the realtor that wants us to short sale.

So will working with this realtor hurt us in the end because they will know we moved out before the redemption period is up? I plan on telling her it is going to take us at least that long to move out since we have a lot of stuff but I also don't want to risk Cash for Keys either.

She took our name but does not know our home info yet. If the lender is planning on offering Cash for Keys would they have done so right after the sheriffs sale or does it come later? Thanks!

[Drazil65]

Hi, when you say your house was sold at sheriffs sale who was it sold to? So, its still in your name? Sorry for the questions but I am trying to figure out why a real estate agent would be contacting you about a short sale at this point? Thank you!

[adviceplease]

I am guessing it went back to the lender (and off my name) since the real estate agent said in the letter they are working with them. I assume it is a scam to get in the house, not give me C4K, or someone told me that if you bk then short sale in Michigan in they can start to come after you for a deficiency again. I really think they are not going to C4K since they have been such jerks about everything.

[Floridagail]

? It the bank took back the house, why would they let you stay for 6mos in the house if it has been put in bank name?

[adviceplease]

I'm in Michigan, you get a 6 month redemption period in which you can live in the house for free unless you want it back then you have to catch the house up 100%. I have been told by lawyers that I am no longer the owner of the home and the bank or buyer has to put the home in their name at time of sheriff sale. If I want it back than I can do so before the 6 months is up. That is what I have been told, I don't know for sure since I have not gone to see who's name is on it.

[Floridagail]

Thanks for info, I am in florida, beginning the process here. so confusing.