Get ready to take out the cash as some of the hottest downloadable titles hits next month.

It’s time for one of the annual Xbox Live events that thrusts Arcade games into the spotlight with Xbox Live’s 2012 House Party. Now, the last Xbox Live event brought us critically acclaimed and best downloadable title winner of the yearBastion. This time, though, House Party boasts two huge titles that previously had uncertain release dates: Alan Wake’s American Nightmare and I Am Alive.

Starting February 14th, Xbox Live will release one major Arcade title a week for four weeks. Each game is either 800 or 1200 Microsoft points, but if you buy all four games, you’ll get 800 points back in your account. Is it worth it to buy $50 of games and only get $10 back? Maybe, maybe not. But, the exciting part comes in the titles.

The first game Warp will be released on February 15th for 800 points, Alan Wake’s American Nightmare for 1200 on February 22nd, Nexuiz for 800 on February 29th, and rounding everything off is I Am Alive on March 7th for 1200.

Alan Wake’s American Nightmare is the follow-up to the full console title of the same titular character, that has Alan stuck in Arizona while trying to hunt down Mr. Scratch. Things only get worse when it seems he’s reliving an episode he wrote of the television show Night Springs. A third-person action game and psychological thriller, the title is the closest thing to a sequel that fans will get for now, but whether or not American Nightmare bridges the gap between both console titles has yet to be seen.

I Am Alive is another highly anticipatory title that is a post-apocalyptic action game with shooting capabilites. What’s remarkable about the title is that the graphics are very well done, and the shooting mechanics are unlike anything we’ve seen in a game so far. When pulling out a gun and pointing it at enemy A.I., the people don’t just stand there while you aim them down: they actually react like a normal person would, either shooting back at you, or putting their hands in the air out of fear. Furthermore, the story is very much shrouded in mystery, besides the fact that one of your key objectives is to simply survive.

For more on the upcoming month-long event, including information on all four titles, you can head over to Xbox.com/HouseParty now.