Real estate blog entries tagged with short sale lock change by Wendy Rulnick, "It's Wendy... It's Sold!" (Rulnick Realty, Inc.)

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short sale lock change: SHORT SALES: Banks WILL Change Your Locks Prior To Foreclosure - 01/18/09 04:37 AM

A disturbing trend is emerging in the Short Sale world. In the last two months, I have had locks mysteriously changed and signs removed on two of my Short Sale listings, one in Gulf Breeze Florida, and the other in Santa Rosa Beach Florida. In both cases, I had lockboxes on the properties. The houses were vacant, with sellers out-of-state. I am certain the mortgage lenders performed the lock changes. In instances where properties may be considered abandoned, the lender may secure the property. The bank's rights are commonly stated with language as follows, from a standard Freddie Mac mortgage:
9. Protection of … (30 comments)

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