Foreclosures Help Information

Posts Tagged ‘Property Maintenance’

Foreclosed Property Maintenance

Question: who is responsible for property maintenance i.e. grass mowing on property that is foreclosed or surrended?

Is it the former property owner's responsibility until the bank sells it?
The property was surrendered to the bank by the mortgage holders several months ago. Owner lost job and could not afford payments.

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Answer: If I stop making my payments I am still responsible for mowing and such. The bank then goes thru the process of foreclosure. Until it is foreclosed it would still be mine. Once it is foreclosed it is the new owner's (around here 99% of the time the bank buys the house at foreclosure so they would be the new owner).

In my city the code enforcement will mow the lawn and place an expensive lien against the house- if no one else takes care of it. So call your city and ask them for help if you have an abandoned house on your street.

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