Driving 4 Dollars Property Question (picture)

[Samantha M.]

I was driving for dollars in my backyard and stumbled upon this house that was obviously vacant.

The curious thing, is there were multiple code violations and other material taped to the front door and windows. One of which is shown in the image below, stating the property is being managed by Chase.

However, when you check the tax roles on the property there is no mention of a bank what so ever. Normally in the owner information, if the property has become bank owned it will read "Bank of America NA" etc. However this property lists a owner e.g. John Smith 123 green hills.

Whats going on is this property bank owned or not?

[Brian Burke]

It means that the owner vacated and Chase has secured the house while they process the foreclosure. Banks frequently have property preservation companies check on houses that are delinquent. If the house is abandoned, the preservation company will force entry, winterized the house, and secure it with a new lock. Some cities now require the bank to post a phone number to contact in case of emergency or code violation.

If no foreclosure deed has been recorded, it is still owned by the delinquent borrower.