ALERT: Late On The Mortgage? Even if you're not - Be Ready For A Fannie Mae "Interior" Inspection


ALERT: Late On The Mortgage? Even if you’re not – Be Ready For A Fannie Mae “Interior” Inspection

ALERT: Late On The Mortgage? Even if you’re not – Be Ready For A Fannie Mae “Interior” Inspection

This is a partial re-post with some newly added parts of an earlier posting on 6/09/2011 & deserves you’re full attention.

We continue to hear about all the break ins going on but what if it was authorized by Fannie Mae?

Here’s a quick snip from the article from BankRate-

If you happen to see a contractor walking around your house, taking pictures, don’t panic. It’s just your lender “inspecting” your property.

According to new rules announced by Fannie Mae this week, mortgage servicers will be required to “order” a “property inspection” no later than 45 days after a homeowner misses a mortgage payment. “The servicer must continue to obtain property inspections every 30 days thereafter” until the delinquency is resolved.

If the servicer determines that the property is abandoned “the servicer must perform an interior inspection upon confirmation of abandonment,” according to Fannie’s guidelines, which go into effect on Sept.1

Story goes on to say:
Speaking of mistakes, you might want to know that some of these lender/servicer break-in cases that have been reported over the last two years involved homeowners who were current on their mortgages.
Oh really? Can you please explain this to this Florida man? Chase? LPS? Bueller? … Bueller?

But the story gets better-

The question is how does the servicer’s inspector determine whether a home is vacant before securing it? Do they peek through your window? Do they assume your home is vacant if you haven’t mowed your grass and happen to be on vacation?

A Fannie spokeswoman says the process involves various steps and it includes checking to see if utilities are on, if there are people in the house and if there is furniture in the property.

But how do you know if there is furniture in the property before you enter the house?

The spokeswoman declined further comment beyond what is explained in the guidelines.

Go to the full Bank Rate article published in 2011

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8 Responses to “ALERT: Late On The Mortgage? Even if you’re not – Be Ready For A Fannie Mae “Interior” Inspection”

  1. Faith says:

    If you do not have one already- I would suggest you foster a dog. That is only if you will take great care of it. A big dog that likes to bark when strangers are near is very good.
    The inspector that comes here is very afraid of dogs. As soon as he hears them bark he takes off.

  2. dinsfla says:

    Good idea. Even putting “Beware of Dog” sign out in case you can’t foster one.

    What I’m concern is that someone is going to get hurt badly. Imagine coming home and you have intruders, not knowing who they are? I fault LPS and the lenders…the workers once again are being orchestrated on what to do just like in robo-signing.

  3. slamtheshysters says:

    LOL – a “Fannie” inspection…but all kidding aside – THIS is NOT funny!
    Love the “Foster” a dog idea…been thinking about how to get some puppers on our property…how ’bout a dog rescue if you have a big enough property? You could rotate the puppers in that are resued, then find good homes and keep the process going. BTW already tried the BEWARE OF DOG signs – it only works on people that can read! lol again.

  4. dani says:

    any stranger dare to come on my property will have to deal with my 3 pittbull dogs

  5. Ken Hansen says:

    The USA needs a interior inspection of the Treasury and Fannie Mae, which of course, is a “national security issue.” But we’ll get to justice and fairness, however, it will take a little while.

  6. TrickleUpPolitics says:

    Ken, just vote Republican on Nov 6th and we can start getting this mess cleaned up.

  7. Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    I expect they won’t do anything like that out here on the compound. They know we’re ll armed. And proficient.


  1. […] I get this feeling that this is going to be a big issue for some of you. Remember I posted this ALERT a few weeks ago to be […]

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