Do they put the foreclosure sign on your property when you are still there?

[tropolis]

im not going through the process, was just curious.

[BassBoy]

There may be some sort of notice, whether it be a sign or a notice stapled to the front door. In our city, it's a notice stapled to the front door.

[sjr1]

Our attorney told us that while you are still the owner on record, no one has the right to come on your property to put up signs, notices, etc. Technically, it's trespassing. If they do, you can pull any notices or signs down. Once the sale happens, and you are no longer the owner on title, then they can put as many signs up as they please.

[BassBoy]

While this may be true in your state, some states foreclosure laws state that "The notice of sale must be published weekly for four consecutive weeks in a newspaper of general circulation in the county in which the property is located. The notice must also be posted on the property within fifteen days after the first publication date." This is an example of one state and each state is different.

The link below will tell you what each state's criteria is for foreclosures.

http://www.foreclosures.com/www/pages/state_laws.asp?ChangeStatePref=true

Our attorney told us that while you are still the owner on record, no one has the right to come on your property to put up signs, notices, etc. Technically, it's trespassing. If they do, you can pull any notices or signs down. Once the sale happens, and you are no longer the owner on title, then they can put as many signs up as they please.

[Minnymouth]

Auction signs are posted on the property no matter whether the house is occupied or not.....

Remember in bankruptcy, the Trustee is in charge of your affairs, he can "do anything"......

As long as your name is on the property, you are responsible for taxes, insurance, etc.

[Loan Litigator]

It would be a violation of the Federal (and depending on the State) Fair Debt Collection Practices Act to communicate, by sign or otherwise, with 3rd parties in connection with collecting a debt. I am involved in the beginning stages of a class action we are filing in California for all those signs that say "Bank Owned", etc. even after the foreclosure sale as the lender is still trying to collect on the debt after taking back the security and we beleive they are still covered by the FDCPA. The real estate agents are merely the agents of the lender in this process and they are just as liable. Outside of lawful notices, like statutory legal notices of the foreclosure, if a lender or their agent puts up a non-statutory notice, contact a lawyer. The penalty is generally $1,000.00 and attorney fees.

[AngelinaCatHub]

If it were me, and right or wrong, I'm only speaking for myself, the sign would be 'accidently' damaged and gone. 'Hub

[BassBoy]

It would be a violation of the Federal (and depending on the State) Fair Debt Collection Practices Act to communicate, by sign or otherwise, with 3rd parties in connection with collecting a debt. I am involved in the beginning stages of a class action we are filing in California for all those signs that say "Bank Owned", etc. even after the foreclosure sale as the lender is still trying to collect on the debt after taking back the security and we beleive they are still covered by the FDCPA. The real estate agents are merely the agents of the lender in this process and they are just as liable. Outside of lawful notices, like statutory legal notices of the foreclosure, if a lender or their agent puts up a non-statutory notice, contact a lawyer. The penalty is generally $1,000.00 and attorney fees.

[hnhlvr]

If it were me, and right or wrong, I'm only speaking for myself, the sign would be 'accidently' damaged and gone. 'Hub

I read the default documents at least two times through and there was no mention of keeping the notice posted, so I took it down.

[No Gravy]

Could that be construed as a "for sale" sign on the property?

[No Gravy]

I read the default documents at least two times through and there was no mention of keeping the notice posted, so I took it down.

[No Gravy]

Once notice has been served on borrower of the foreclosure and the date set the terms of your deed of trust mortgage calls for by sate statue that a public notice of the pending foreclosure be made. Also notice can be posted and served, advertised and/or posted on the subject property. At this point the FDCPA does not apply. In addition you agreed to the terms in your mortgage contract and it spells out the remedies available to the lender.

The FDCPA applies only to loan servicer/lenders/collectors that acquire a loan in default and only apply to the collection of the debt. If the loan is defaulted with the same servicer/lender then the FDCPA does not apply.

Once the property has been foreclosed upon it is then bank/lender owned and they can/have the right to market that house in any manner as they see fit.

It is no different than a car dealer that is having a repo sale. The bank/lender/Realtor has not violated any laws by stating the property for sale is "bank owned" or "foreclosure" when in fact both are true.

In your theory you would not be able to conduct a short sale then. And to further disprove what your saying again, once the foreclosure is over and done you don't own the property and have no say as to how it is marketed. Unless specific identifying information was given out (that is not public record) and that amounts to only your payment history in a defaulted mortgage the rest is all public information. Your number of payments missed, the amount in default, the amount to cure and the amount to settle are all public records and even the amount the house sold or did not sell for at public action.

You can not hide behind the FDCPA third party notification in a foreclosure since state statutes require the public notice of default, right to cure default, and sale information all be made public.

Just a general question along these lines...at what point, if any, does a (former) homeowner who is still living in the house have to allow Realtors in to show the house?

I realize it may be different in each state (seems like everything is), but since I plan on staying til the bitter end...I'm wondering what I'm going to be up against.

[No Gravy]

Hey Duane since your an attorney you probably should not be handing out legal advice without a disclaimer you might get sued if your wrong.

I didn't see him identify himself as an attorney, and even if he did, I don't see how what he said could be construed as "legal advice." He stated his opinion.

[No Gravy]

You don't, since your talking a 'hold over' you don't have a landlord tenant relationship with the bank. If you did they would then give you 24 hour notice and a 3 day pay rent or vacate notice...LOL

Aye, another advantage of being an owner verses a renter This being my first house and never having been in this position before, in an owned home or a rental, I was surprised at how long the process can be. Here in CA, the process is known to take 12-18 months.

I just wasn't sure what happens towards the end of that time, and if there's a point where strangers/prospective buyers could be allowed in my home.

But the only thing they can do is start an eviction proceeding against you and only after you are out can anyone enter.

Keep in mind just like the police they can't enter without a search warrant so the lender or the Realtor can't enter at all.

Good to know, thanks. Common sense would dictate that, but I'm trying to find out all I can to avoid surprises.

I suppose they could try a criminal trespass but I don't think it applies in this situation and only applies if you move back into your foreclosed home if they can prove you had vacated before.

There are sooooo many houses in this area vacant, and the lenders seem to be taking their time about pushing the foreclosure and taking them back. From what I understand it's mostly likely because they don't want the liability, and another reason I don't plan to leave until the bank is ready to put the house back in their name. Until then, I consider myself their property's caretaker

Now what you can do is say, OK Mr. Lender how about "cash for keys" (google it) and see what they say. Then you are more likely to be cooperative.

Yeah, I'm familiar with the cash for keys. Another reason for staying Well that and...I have no where to go yet. Minor technicality!