Someone coming to my house...

[rooster0330]

We are two payments behind, first time EVER!!! We just submitted the paperwork for loan modification. I have been in constant contact with the mortgage company. This month as well as last month, someone comes to my house takes a picture knocks on the door and says please call you mortgage company. I said I am in constant contact with them. Shes says ok and leaves. Does anyone know what this is all about or is it standard practice amongst mortgage companies when people are late on the payments! I just saw another person do this to my neighbor down the street today, so I guess they are late too....

[StartingOver08]

Yes this is SOP. The mortgage servicer makes money by sending out a "property inspector" to take exterior photos. Some servicers send out inspectors monthly for each and every month you are in default. How they make money is they charge the account for each visit (they charge more than what it costs naturally).

[flnybk]

My kids were playing across the street today and saw a car pull up and take a picture of my house and leave. Is this the same thing? What are they documenting? What are they looking for?

[frogger]

My kids were playing across the street today and saw a car pull up and take a picture of my house and leave. Is this the same thing? What are they documenting? What are they looking for?

Do you owe anyone else money that you're behind on? I make a few extra dollars by doing a little work for a company that is looking for assets. Go to the property, snap pictures (never trespassing!) from the street, looking for vehicles or anything of value that could be seized.

Or, it could be as simple as the tax assessor updating the county database.

[Faust]

This could be the latest effort by your lender to work with you on your mtg. Some companies are sending people door to door of their borrowers to make sure they know they can get some kind of help with their mtg. Not so much BoA or Wells but Chase, Saxon, and others are doing this. Because people that are behind on their mtg are understandably reclusive during this trying time.

Check CNN Money, you find this info there.

http://money.cnn.com/2009/11/19/news/economy/Obama_foreclosure_fix/index.htm?postversion=2009112821

[Mi Bankruptcy]

This could also be the insurance company taking pictures. My house needs new siding because the old siding is rotting. I plan on putting new siding up in 2010. However,the insurance company jacked up my rates because of my siding. I was never late on my house payments, insurance payments or tax payments.

[frogger]

This could also be the insurance company taking pictures. My house needs new siding because the old siding is rotting. I plan on putting new siding up in 2010. However,the insurance company jacked up my rates because of my siding. I was never late on my house payments, insurance payments or tax payments.

Not to change the subject, but I'm seeing this happen more and more. One insurance company told me that I had to install gutters and downspouts on a home (rental property), and then slope the yard away from the foundation before they would renew.

I think not.

[flnybk]

Do you owe anyone else money that you're behind on? I make a few extra dollars by doing a little work for a company that is looking for assets. Go to the property, snap pictures (never trespassing!) from the street, looking for vehicles or anything of value that could be seized.

Or, it could be as simple as the tax assessor updating the county database.

We dont' owe anyone money. Our chapter 7 was discharged in July. The house was included. We did not sign reaffirm papers.

[StartingOver08]

My kids were playing across the street today and saw a car pull up and take a picture of my house and leave. Is this the same thing? What are they documenting? What are they looking for?

This is the servicer checking the condition of the property. The servicer of your mortgage (even though the house is surrendered) charges the investor each time they send someone out to take a photo so it is a stream of income to the servicer while you are in default. Servicers use this to make more money off of their investors.

It is nothing to worry about because you have already surrendered the property in BK. The lender will continue with the foreclosure and eventually you will need to move, but depending upon your state's foreclosure process it could be quite a while.

[Lana]

They're checking to see if the property is vacant. If they deem it vacant they will go change the locks and winterize the property to preserve the property.
I actually knew of a couple who was behind, went away for the weekend and came back to being locked out of their house.