Weird...guy taking photos part of foreclosure?

[onlineuse]

Had a weird incident this am that has us both a little on edge. We've been discharged and did not reaffirm the mortgage. We've already effectively moved out and when asked by the trustee 3 months ago indicated we would likely be out by 12/1...so this was no secret on our part.

Still we'd heard zero from the mortgage company. I've been following the public notices and county court filings and there has been nothing as of this morning. The house is 8+ months without a payment FWIW.

We moved nearby to a vacant home on the same block. This morning we had a slow moving vehicle taking photos of the home and are wondering if this is just part of the foreclosure process beginning - ie the bank making sure the property is in good condition - it is, or some other weird situation arising?

Someone else mentioned it may have been an appraiser taking comparison photos?

[HHM]

Could be a number of things. My money is on the fact that it was probably a real estate investor thinking of bidding on the property at the foreclosure auction.

Although it's possible the bank sent out a guy make sure the house is in good shape, but doing so is not typical.

[BassBoy]

It could be the mortgage holder, an appraiser or an investor who may have seen your home in a pre-foreclosure listing. Heck, it could be anyone on the block maybe looking to buy it, fix it up (if it needs it) and then turn around and sell it. If the property sells for 2/3 of appraised value at auction (2/3 is the normal starting bid), there's a good profit to be made, especially if the house does not need costly repairs.

[onlineuse]

You folks know how it is, it's just unnerving. We're near the old home and it almost appeared he was taking photos of both places. Someone knocked down the numbers on the old home aside of the ones on the building itself so it is also possible the guy took photos of the wrong house as we are that close.

Correct me if I'm wrong on this, but the ability of the mortgage companies and all creditors to try to dispute is over and gone once the 341+60 passes and a discharge is issued? IE, the mortgage company if they so desired could have filed an adversarial procedure during the 60 days but really can't now?

Edit...I did just check. Through this entire process the home never appeared on any of the listing sites...it did a few days ago around the time of our discharge --- weird. So it may well have been the bank finally getting around to doing their job/and or an investor etc.

[BassBoy]

Yes, it is unnerving. I worry yourself with it too much though. As long as no one is entering the property, then let them look.

To answer your question about disputes......they had their chance. That part of your case has been satisfied. You shouldn't hear a peep from any of your creditors.

[onlineuse]

Just wanted to throw this out as well, turns out in digging ANOTHER home in the neighborhood is being surrendered. Case was filed a short time ago and actually hit the sites before mine. I see no homestead on the listing and it's listed as a no asset case so I am assuming they are giving up the home as well.

Unlike our situation, there home is going to be right near what is owe in terms of value, so I bet the bank is already preparing their relief from stay and probably were just doing comparisons in the neighborhood.

The housing bubble is still bursting, JMHO up here. There are so many homes just hitting the books this month that were being held by the banks for the new fiscal year. Suddenly in 10 days we went from 1 to 7 in a 3 block radius !

[IN-DEBT]

photos

During the foreclosure process the bank or mortgage holder has to comply with insurance reglulations to show that they are inspecting the property and have secured and winterized it if the heat is off and no one lives there. This process is done every month. They are also checking for vacancy as they must report any of this to the insurance co. to have standard rates. If they don't notify a vacancy then they jeapordize the covered perils if this vacancy last more than 30 days. This way they can say it was occupied and the bank makes the regular payments for taxes and insurance and therefore they have coverage. Onc you move out they will put a lockbox on the door and probably board up the windows and winterize if you live in a cold area. They usually also shut off the water to make sure there are no plumbing breaks that flood the home.

[onlineuse]

I don't think it had anything to do with our house in retrospect. The other home was just listed and I believe it was an investor trying to check ont he value etc.