REO Property preservation
Property preservation is a process undertaken to preserve, protect and maintain residential or commercial properties. Basically, when a property owner gets behind on payments, they often abandon the property and the mortgage company is immediately responsible for the liability and upkeep of the property and location. During this pre-foreclosure time period, care still needs to be provided to the property or asset as it has yet to go through legal steps of foreclosure. Neighbors, cities, code compliance all want to ensure the property does not deteriorate. Once foreclosure has been completed, it is then considered Real Estate Owned, or REO property. It will still be preserved and prepared for final sale is the assumption.
Required and scheduled services are usually securing, winterization, minor repairs, lawn maintenance, broken pipes and boarding windows. Our system supports the entire FNMA, FHLMC, FHA, VA and other investor libraries of products, codes, fees and allowables. Take a closer look, but we help gather photos, videos, fill out forms, drop off contact cards and postings, collect GPS location data and much more. Anything you need to provide evidence of conditions at properties before / during / after is handled by the system.
For details, contact us today…. 15443 Knoll Trail, Suite 130 Dallas, Texas 75248 Phone | 888-963-2459 Fax | 214-960-4320 RoadAhead@CBTcomply.com CBT is headquartered in Dallas Texas. We proudly serve a diverse client base in all 50 states. Don’t forget to visit: http://www.cbtcomply.com/property-pre servation /
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