Most folks that are in that situtation do not give a second thought to what they leave behind or notify anyone that they have gone. Someone will find a home for the stuff, goodwill, etc or the dump. The cost to resell the property will be the responsibility of the lender or buyer after the sale. If the lender does not cover their cost from the sale proceeds they may sue and get a judgement against the borrowers. This is not happening at this time that I am aware of. They also may have mortgage insurance either HUD or private to cover their possible losses.
Letting them know the house is vacant may help settle their minds a little and help the lender too. They may not do anything until after the sale any way. I had one where the lender put plywood on all the windows but only after they were all smashed out. Your neighborhood is not that rough.
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile
Probably just a for sale sign. They will get an appraiser to come out first to get an opinion of the value. This will take a few weeks. Possibly even done before the foreclosure depending on the lender. Usually a Realtor is hired to list the property for sale and they too will handle any clean up, repairs sometimes etc. Leaving the curtains , drapes and or miniblinds closed may help.
HUD, VA will put signs in the windows when they get them back warning against vandals etc.
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile
If it was really packed with a whole lot of stuff and a rational person could not even tell if it was lived in or not they may file eviction notices. If they are gone then they will not bother with eviction. When i lost my house I moved a month after the foreclosure and was not even contacted and did not call to let them know I was gone. It really just does not matter to the lender. They will do their thing and that is that. Calling will not speed up the process. It will not hurt to call and it will make them feel better knowing that they tried to do the right thing. The lender will probably try to collect the outstanding balance or past due monies.
Call them and tell them they are out. I will do it for you if they feel ashamed or ???
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile
After reading through this thread I wanted to clarify a couple of points. The difference between the 20 day and 30 day notice is because of federal debt collection laws. An attorney is considered a professional debt collector so he has to give them 30 days notice. A non professional is only require to do the 20 days.
The other point is that with a home equity loan the foreclosure becomes judicial. They have to sue in court to be able to foreclose.
Commentary: It sounds like the person was typical in that they tried to ignore the problem. If they did not have the income or the hope for the income they should have been considering selling long before. They should have been working with the lender to keep them abreast of the situation. The lender may have done a workout or taken a deed in lieu and they could have avoided a foreclosure on their record. With a home equity loan there should have been 20% which would have made it a candidate for a subject to situation and again avoid the foreclosure. The issue of moving before the foreclosure is also suspect. If the notices were not done properly they could have had additional time.
Quick question… Were foreclosing on a property tommorrow…
It’s been a long time since we’ve foreclosed… on a property…
Can’t remember… do I have to give a (Texas) 30 days notice… pay rent or quit… or is there a way to do a shorter time frame… this guy put the screws to us…