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YouTubeJust saw this nbc4 'I team' piece. I know several people who have similar issues in their area.
http://www2.nbc4i.com/news/2011/apr/28/9/houses-hell-whos-responsible-ar-469501/
the bank is the problem
Columbus Underground Messageboard » General Columbus Discussion » Development
Houses From Hell
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Snarf wrote >>
What about the mortgage defaulter?
Chicken or egg..True, but the issue in most cases is tracking down the owner (usually a bank) in order for them to take some responsibility. If you have ever talked to a low level csr five states away, then you realize the difficulites involved without assistance from the city. A lot of these properties just represent bad loans that the lender has no contingencies for and that have become lost in their systems.
Posted 1 year ago # -
Twixlen
Westgate, Columbus
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I watched a house on my street that no one lived in for 4 years change hands on the Auditor's website as banks transferred it around. Did anyone ever send out a crew to mow the grass? Pull down the dead 70 ft tree in the back yard? Fix the hole in the house where animals are getting into the attic?
As for mortgage defaulters - what about if someone dies? And is the sole mortgage holder? Seeing that with another house in the neighborhood right now.
Posted 1 year ago # -
Snarf
Dystopia
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Based on personal experience, all the banks I work with are incredibly professional when it comes to managing a property through the foreclosure process. They are always quick to secure, maintain, mow the lawns, etc. Many of the larger entities (Fannie Mae) even have their own direct endorsed crews they use to do this work, such as Market Ready.
Shame about the bad ones making the rest look bad.
Posted 1 year ago # -
Twixlen
Westgate, Columbus
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I have definitely noticed that some banks, once they finally take possession of a property (which takes a LONG time - especially if the property is vacant), will be excellent about maintenance. From my observations in my own neighborhood, it's about 50/50 on good to bad property management.
Posted 1 year ago # -
Snarf
Dystopia
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Possession is often times delayed not bc of bank red tape but bc of shitty communication by the defaulter. I'll have instances where you post a property, they don't call. You post the "Knowing your options" flier, they don't call. You offer cash for keys/relocation assistance, they don't respond. Then they get evicted if they're still occupying the property.
Other times its very difficult to determine occupancy with new assignments.
You want to hear a "hell story" I was privy to an eviction a few weeks ago where the married couple with three teenage kids did as above, zero communication and were to be evicted. Well at the eviction it was determined that the husband had hid everything from the wife in regards to defaulting. He asked the sheriff if he could have "ten minutes to speak to my wife about this." Can you imagine!? "Hey honey, so I've been in default for likely two years or so, never told you, never accepted relocation assistance and so we're being evicted this morning, hope that's okay." Good god, I would get in my car and never look back - denial is intense.
Posted 1 year ago # -
peanutnozone
Baltimore MD
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I can only add to Snarf's post -- I worked for Chase for a while in the mortgage division, and some people were so prideful and were hanging on without telling ANYONE or even communicating with the bank for months while they were in foreclosure or in bankruptcy proceedings (which drew it out even longer...), I mean a year and a half or more in some instances. REO properties, when held free and clear and the occupant was out, were normally maintained pretty well. There was even a hotline for properties where it looked like the mortgagee had fled (i.e. given up and flown da coop) and neighbors could notify us so we could fix broken windows, mow grass if there was a yard, etc.
Posted 1 year ago #
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