"LAMCO". Anybody every get a listing from these guys? I've got 3 "pre-listings", one of which I've had for over TWO YEARS. They called me today complaining that I haven't done the interior on the new pre-listing, which they can't even tell me whether or not it's gone to sheriff's sale yet. Asset manager told me it was MY responsibility to know when the sheriff's sale was (it's not even on the list yet). Any input??

I also have 3 that I've been doing monthly occupancy inspections on. None of mine is scheduled for sheriff's sale yet either. I haven't had any of mine for as long as you have (although one I did a BPO on last year, did a couple of occupancy checks and then the owner got the mortgage current so they cancelled my drive bys- now they must be behind again because it's back on my list). I hope they become listings, but you never know.

I have done the same thing for these people. "watched" some of them for 6-12 months, then they disappear. I have never gotten a real listing from them.

Just got a phone call from them. They have "re-assigned" my pre-listing because I refused to trespass onto property that has not even been foreclosed on yet. I told them to re-assign the other 2 as well. I don't want to work for someone like that. They said they had found someone who would "cooperate". Sometimes the lack of ethics just kills me.

What did they want you to trespass for? Was it for an occupancy check? There is no way you could have done an interior on it if it is occupied and the owner is not willing to allow you access. How do you guys find out when the sheriff's sale is? Would this be the auction date??

They wanted an interior BPO. The property is a "weekend" type place, and I couldn't get them to understand that. Just because no one "lives" there, they think it's ok to ask for it to be rekeyed and an interior done. Our sheriff's sales are posted on the internet site for the sheriff's department. But this one hasn't even been foreclosed on yet! So legally speaking, the mortgagor still owns it.

That's a good way to get shot. Are they crazy?

I also had a company ask me to re-key a little premature. I refused. The AM told me she would find sombody else to do it.

I'm always surprised at what some agents will do to get a listing. Obviously they got someone to agree to do this, even though it is illegal and unethical.

I just got a premarketing on one, did a drive by looks vacant to me, so i tagged it with my sticker (notice this property has been found vacant..................) I will drive by again in a couple of days, if everything is the same it gets secured..people need to read all those papers they sign at closing..(lender has the right to secure there intrest if the property is deemed vacant / abanded

What do you do if, like the one they assigned me, it was not a year-round residence? If it hasn't gone to sheriff's sale yet (mine hadn't) wouldn't that be considered breaking and entering?

OH REO -

I'm not sure about Ohio, but I had a Captain with the local Sheriff's office tell me that if the owner of record didn't authorize me to enter the property - it was, at the very least, Trespassing.

He told me, when the bank takes possession, legally, then I can go in. But until the bank takes official custody of the property - he told me to keep my you-know-what out of the property. *saluting* "Yes, sir. I'm outta here."

I told the AM what I was told by the cop, and she said to obey the officer. Duh!!!!! No kidding!

I was just reading a mortgage for MN, (Fannie Mae), and it states that the Mortgagee, or its agents, may enter and inspect the interior of a property with resonable cause. Lender needs to give notice at the time of or prior to the inspection specifyiing the resonable cause.

Also it says if the borrower has abandoned the property, the lender may do and pay for whatever is resonable to protect the lenders interest in the property, including assessing the value, and securing and or repairing the property. Securing includes, but not limited to entering the property to make repairs, change locks, replace or board up doors and windows, drain water from the pipes, fix code violations or dangerous conditions, and have utilities turned on or off.

So, I assume you could ask to be provided with a copy of the mortgage, and proof of notification of the borrower and go in, if the correct verbiage was in the mortgage. If the cop shows up, give them the documents that say the borrower has given permission. Obviously this is not legal advice, or copied word for word, but I found it pretty interesting.

The protection of the lender's asset, the property, is found in nearly every mortgage document. Remember that these mortgages are sold back and forth so the language is pretty much the same all across the country. Going into an occupied property does get a bit tricky and one would really want permission of the owner, but if a property does appear to be abandoned one can go in after making a reasonable effort to make sure no one is still living there. Then if it is, in fact, abandoned I always double check with the AM to make sure I am to rekey and secure the property. Even so, we will post the property so that the former owner knows who to contact should there still be personal effects in the house.

Steele in Minnesota

I understand what you are saying. But the owner was NOT going to let me in under any circumstances. The sheriff's office showed up, and politely told me to keep my narrow @ss off the property - even though I told him what the circumstances were. He could not have cared less, and I wasn't going to risk being arrested - not for $75 anyway *s*

And, to be quite honest, if the shoe was on the other foot, I probably wouldn't let a representative of the lender in my house without a court order if faced with similar circumstances.

If the cops want me out of there right now, it's like the song says "Gimme three steps and you'll never see me no more."