Wednesday, April 15, 2009
Foreclosures are now becoming a problem in the Mountains. Tenants have no rights once a home has been foreclosed. Some banks are being cooperative but not all. Today I had a phone call from a locksmith who wanted to add a lock to a property I handle. I ask why and he said that the bank wanted access to the property. I told him that the property had not been foreclosed so the bank did not own the property and had no right to change the locks. His boss called later and tried to get me to allow the lock change. I still represent the owner and have a fiduciary responsibility to protect his interests. I told the boss NO!!
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