by Paula Samford
So we’ve all read or heard on the news about the horrendous actions of the banks over the past couple of years, but today I was shocked on a whole new level! I have a listing that I’m marketing as a short sale, and as of today there is still not a foreclosure date scheduled. I went by the house today to check on everything because the owners have already relocated and still have their belongings in the home. To my surprise I found that the bank had removed my lockbox, changed the locks and winterized the home! How in the world is this legal?! I immediately called the company who changed the locks and they said that “the bank has to protect its asset.” I’m completely amazed and don’t see how it is even legal for a bank to change someone’s locks before they foreclose and take possession! They are interfering with our ability to show the property to any prospective buyers and are guaranteeing a foreclosure for my clients! Most of us have mortgages on our homes, and the home is the security for the loan, but just because the lender gave money for the home does not give them the right to take possession of the property prior to foreclosure! When does the madness stop?!