Liberty Bank PUSHES Property Owner Toward Foreclosure ...

Do banks intentionally muck up short sales, unnecessarily causing foreclosures by holding properties hostage with changed locks during escrow?

It?s called madness to the 19th degree!

This time it?s Liberty Bank?they?ve approved the short sale, only to have its independent contractor (aka ?field services? or ?home preservation?) change locks & jeopardize a sale & purchase.

Wow, here?s yet another example of insanity in short sales.

I?m the list agent on a property currently in escrow to close with Liberty Bank already approving the short sale.

For unknown reasons, Liberty Bank apparently has ordered its ?field asset services? contractor LPS to change locks for a SECOND time!

We are locked out?again!

Weeks earlier, I arrived at the property for scheduled showing, discovering locks had been changed. Quickly, I called Lending Processing Services ? dialing the number on the sticker affixed to the front door (see image above).

I identified myself and confirmed property definitely was NOT abandoned. I then quickly called property owner who in turn contacted his attorney.

Property owner promptly contacted the bank, Liberty Bank, which apologized and ordered LPS to restore access. And then, a few weeks later we?re facing the same ?take over? as before.

This time a sale and purchase is in jeopardy!

FACTS:

1. Property still is actively listed for sale, appearing with all my contact information in the Multiple Listing Service.
2. Property owner promptly has called LPS and Liberty Bank each time I?ve discovered this ?illegal? act. I?m not an attorney. However, an empty property doesn?t imply ?abandoned.? Shouldn?t a bank face responsibility to CONFIRM a property is abandoned before ordering field services ?take over? the property? Shouldn?t a bank?s hired gun have responsibility to check MLS for listing and call agent or look on the yard sign conveniently staring at the field asset contractor for agent?s phone number?
3. Buyer?s appraiser cannot access property.
4. Seller?s attorney once again updates Liberty Bank, which sends out ?HUD key? for appraiser to access property.
5. Meanwhile, short sale approval expires, forcing Liberty Bank to extend closing. All the while, buyer?s mortgage lender cannot proceed without appraisal.

Three times on this one property we?ve faced this madness.

WHY????

Do you know the answer? Do you know why banks do this? I?d appreciate hearing what you think of this. Go below & tell me what you think. I?ve been involved in over 130 short sales. Many times already, I?ve faced a bank unilaterally ordering a field services contractor to commandeer a property. Of course, banks typically blame their ?exuberant? field services people. Field services says banks ORDER them to commandeer the properties, even when field services report property actively listed for sale and already secured.

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Tagged as: florida, liberty bank, Mike Payne, sarasota, Sarasota Foreclosures

Source: http://www.sarasotahomesforsalenow.com/liberty-bank-foreclosure/?utm_source=rss&utm_medium=rss&utm_campaign=liberty-bank-foreclosure

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