Did anyone read the story on the front page of the Austin American-Statesman today? It is a story about a
couple who closed on a home that was a PRE-foreclosure on May 7, 2008. The story clearly states that the foreclosure was not completed. Their transaction funded and the deed was recorded May 13, 2008. On that same day they notice that someone has attempted to break in by drilling holes in their door locks. They call the police. They call the title company and are assured that the foreclosure action has been stopped. When they come home from work the next day their belongings are missing. Field Asset Services has trashed-out home for mortgage company that was set to foreclose. I didn't think that they could do that if the property was occupied. By occupied I mean that clearly the utilities were turned on, there was furniture in the house and probably food in the refrigerator. No one attempted a cash-for-keys. What are the rules on "occupied" property and the $$ amount in value on items needed to be inside before it would be considered occupied? REO agents please answer!!
Lawsuit city......look for Field Asset Services at a IKEA near you purchasing this owner new furniture. Certianly there are civil lawsuits to file, but perhaps criminal too. Breaking and Entering, Burglary, Trespassing, and perhaps others. Sounds like a bad mistake on a couple of people's part. My guess is just unfortunate communication mishap....like police SWAT team going to the right address on the wrong street. It happens. Trashout should happen after the foreclosure and after eviction. I would guess most REOs actually get the writ even if the owners have vacated to be on the safeside. If it hasn't gone through foreclosure it isn't their house to own/occupy/ or make changes even if vacated. Keep us posted.
If there was lack of communications between the bank and Field Asset Services and the property closed and funded titlle transferred, then it is a civil matter between the new property owners bank and asset services. The bank should sent notice to the Field Asset Service cancel their services. I would forward a demand letter to both the bank and Field Asset Services requesting for the reimbursement damages to the property or file suit. Good luck interesting story http://www.lynn911.com
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