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Updated almost 10 years ago,
Bob MaleckiPoster#5 Tax Liens & Mortgage Notes Contributor
- Investor
- Kingston, WA
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Preforeclosure property preservation rights?
We just purchased 2 notes on homes in Oklahoma, both are vacant and we are working with a law firm to foreclose. Since these are boarded with FCI, we have automatic basic insurance under their blanket policy with OSC. I would like to send out a third party field service visit to get me an assessment of the property condition, and if possible secure the home if needed, especially in light of the recent tornados in the area.
So, with these being vacant and my company is now the recorded lender, how far can I take a preservation service without violating any regulations? Any comments are appreciated.
Bob