Re: Sounds like you're writing new law

Posted by steele in minnesota on June 21, 2007 at 18:31:26:

In Reply to: Sounds like you're writing new law posted by RSI on June 21, 2007 at 17:19:53:

RSI is right, the rules you have are not in regard to a foreclosure. Taxes don't have anything to do with it. More so the habitability of the property.

The bank needs to show the property not only vacant but "abandoned" and now not liveable (ie water or heat off). But the only time they need to do that is when the property is still in the foreclosure process itself. Either before the Sheriff Sale or during the redemption period. After redemption the property is the bank's. Technically your belongings could be said to be "trespassing". Now in my own experience when a house is vacant after the redemption period is over I am asked to check to see if anything of value has been left. If it appears that the owner was still using the house for storage and there are items that appear of value I am usually asked to place them in the garage and give the owners 2-4 weeks to get them. Otherwise they are disposed of. But if I have no knowledge of how to reach them I will simply leave a notice on the door. But that is how the lenders I work with act.

Remember that if the property is vacated during the foreclosure process the bank has the right to secure the property if they truly feel the house has been abandoned and needs to be protected. They can then petition the courts to declare the property abandoned and speed up the process dramatically. But, again, it must fit the category of abandonement, not just vacant.

Quick questions. What date was your redemption offically over? Did they "trash out" the house before or after?

Steele

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