What rights do we have?

I went to check on a home I am attempting to short sale, and a field services company came by and changed the locks and winterized the property.

The bank hasnt even foreclosed on it, so I dont even know why they sent someone out to do that.

Does they bank have the right to do that on a property they don’t own?

What are the homeowners rights?

if the bank holds a mortgage they “own it” what is your bundle of sticks in the game? did the current homeowners move out? the bank has every right to protect their investment.

No one lives at the property, but its not a distressed vacant, its still taken care of.

I was under the impression that a bank can only enter a property once they own it. Yes, they hold the lien on it, but they down “own it” unitll they foreclose on it.

The lender has full rights to secure their property and protect the collateral. That includes taking the necessary steps so the pipes don’t burst and the locks are secured to their satisfaction.

However, barring any quirky laws in your state, it is still the home-owner’s property until the sale. Therefore, the HO has full legal rights to change the locks back, or you can do it for them with their permission. It’s nothing that a good cordless drill and a new $30 lock set from Home Depot can’t solve.

Thats what I am going to have to do, because I need access to the property.

If I don’t do the short sale, then I will purchase his appliances to give him so money.