Going through Deed-in-Lieu of, and the Bank changed the locks on my property. What happens if the property is vandalized?

Asked by Lisa, Lancaster, PA Sun Nov 20, 2011

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11
Ruth and Per…, Agent, Los Gatos, CA
Wed Dec 7, 2011
Hi Lisa

Regret to hear of your issues since 208. Must be quite an ordeal.

Lisa, as you are now out, there is not much you can do about the day
To day issues. Since BofA changed the locks in February of this year and now it is 2012
They cannot expect you to manage vandalism, as you are not at the property.

Trust you did take pictures of the Property with date and time stamp from the inside and
outside before You were out of the place, this way you can claim the property was damaged
After you Left.

Good luck.
Perry
0 votes
Robert D Hug…, Agent, Devon, PA
Wed Dec 7, 2011
Lisa very sorry to hear this has happened to you. Unfortunately, you are not alone. We deal with a lot of distressed properties. Ie. Short-sales, REO's, pre-foreclosures. To the best of my knowledge and check this with a qualified attorney; You are out of it now. The deed in Lieu is the last option before formal foreclosure and sheriff sale in PA. One of the most ridiculous acts from the banks is not allowing you to remain in the home all the way up until the home is sold at sheriff sale. Who better to care for the home than you. These lenders are all missing the boat, and vandals do and will attack empty properties.

It sounds like you as well as many others are insolvent after this process. Lenders generally do not bother these type of owners past these stages as they know it will be very difficult to collect any previous money owed. Verify for your own piece of mind with a qualified attorney in these matters.

Best of luck to you,

Rob Hughes-Long and Foster
0 votes
Lisa, Home Owner, Lancaster, PA
Sun Nov 20, 2011
btw the homeowners insurance is lapsed.

This all has been going on since 2008! First started with trying to sell the property, through a realtor, short sale and by owner. Then I tried the MHA program, and now deed-in-lieu of....
0 votes
Lisa, Home Owner, Lancaster, PA
Sun Nov 20, 2011
I rent a property now. About 12 miles away from the property..., I continually maintain the outside (mowing/shoveling)..., because they say I have to.

BOA winterized the property in early February 2011 and changed the locks at the same time....
0 votes
Lisa, Home Owner, Lancaster, PA
Sun Nov 20, 2011
Yes. Of course I'm worried about repercussions....
0 votes
Erica Ramus,…, Agent, Pottsville, PA
Sun Nov 20, 2011
So you're close but still "own" it and you are worried about repercussions if the house is damaged, right?

Are you still keeping up homeowner's insurance or did that lapse?
0 votes
Lisa, Home Owner, Lancaster, PA
Sun Nov 20, 2011
All of the paperwork is not signed yet.., the deed is still in my name. I guess signing that over is the next step....

The garage door openers were mailed back to them. The house keys did not have to be sent because they changed the locks back in early February 2011.
0 votes
Erica Ramus,…, Agent, Pottsville, PA
Sun Nov 20, 2011
How far are you into the process? Have you signed all paperwork and handed keys over to the bank?
0 votes
Lisa, Home Owner, Lancaster, PA
Sun Nov 20, 2011
Thank you for answering my question.

The reason for my question is..., because when I drove by the property (which I do every now and then because I miss the home), I noticed that some BB shot gun holes were in two of the big picture windows. This absolutely was NOT there before!

Thanks again.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Nov 20, 2011
If you no longer live on the premises, and no longer have any access to the home, the vandalism should not pose a problem to you, however you may wish to consult with your attorney, he/she can better advise...
0 votes
Ron Thomas, Agent, Fresno, CA
Sun Nov 20, 2011
If the Bank has the Keys, then you are off-the-hook,
in more ways than one.

I hope you got your stuff out.

Good luck and may God bless
0 votes
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