Nearby forclosure home trashed...how to contact GMAC? (owner)

[jkarolyi]

Hi All,

There's a foreclosure near me that's up on a mountain out of view from just about everyone. In fact, I've been keeping an eye on it hoping to snag it as an REO property. It sold for $750,000 less than two years ago...a gorgeous home with a panoramic view. It became bank owned in March, and the owners have stalled eviction until now.

I ride my mountain bike near there almost every day and noticed that there was piles of trash outside the house. I rode closer, and every door and window was wide open. Junk everywhere, inside and out of the house! It looks like a landfill. Windows smashed, HVAC system ripped out, pipes stolen, sofa in the pool, kitchen sledgehammered. How these slobs qualified for a 750K house is beyond me. I'd like to report the property vandalized to the bank, so they can board up the windows and prevent further damage. Others ride and hike on this trail, so I'm sure it will become worse if left open to the elements.

Called the assessor's office and got the name and address of the bank who are the current owner of record. It's GMAC Mortgage in Ft. Washington, VA. Anyone know a contact number or email address to notify them of the open property? Are there any good free foreclosure forums where I could ask this question?

[Zeke]

That's a shame, for sure, but not that uncommon. The local police should be notified if you see any actual people doing any harm or hanging out. Meanwhile, the band will be sending a surveyor out soon, they're just pretty busy right now. Once the bank gets the report, you might be in the cat's seat with your offer. I'll bet you can snag it in the 4's.

[Aurel]

Disgusting slobs who deserve to live in a trailer...

Google is your friend:

https://www.gmacmortgage.com/Utilities/Contact_Us/ContactUs.html

Aurel

[jkarolyi]

Homes in this area (San Bernardino county) are selling for about 40% off the peak of two years ago in nice condition. Our county has had the biggest drop in the USA. I'm hoping to snag it for high 2's or low 3's, since it should take at least 50K and a lot of sweat equity to bring it back. Wish me luck...it has a 3 car garage with a shop!

Thanks for the link Aurel, but I already tried those numbers. Nobody there could connect me to anyone useful...they only deal with current and new mortgages. And yes...amazed that such trailer trash lived in such a gorgeous home.

[RWebb]

your sec of state's office will have an address - for service of legal process - fory corp. doing business in the state

yes - call cops in the meantime


good luck -- you must be in fresno...

[Gogar]

I wouldn't be so quick to think the former 'owners' of the house did it.

Here's that famous "Kids destroy new home develpment" video. Hilarious, right?

[turbo6bar]

If you really want this house, buy some plywood and board up the sucker yourself. If the cops come, make up some BS story. Sometimes playing by the rules gets you nowhere.

[jkarolyi]

I have a mailing address which I got from the tax office. Snail mail will take a week to get to Virgina, and I'd really like to make a personal contact there so I can be the first to submit an offer after they clean the place up.

And yes, the owners almost certainly did it. I've been eyeing this place like a hawk...they lived there until yesterday afternoon!

[Zeke]

Originally Posted by jkarolyi

I have a mailing address which I got from the tax office. Snail mail will take a week to get to Virgina, and I'd really like to make a personal contact there so I can be the first to submit an offer after they clean the place up.

And yes, the owners almost certainly did it. I've been eyeing this place like a hawk...they lived there until yesterday afternoon!

Don't believe for a minute that a bank will respond to your quickness and eagerness. They will take their sweet azz time in evaluating the house and deciding what to do. Just keep in touch.

AFA as getting the house for the high 2's, I don't think so. High 3's is 50% off and one can do a lot to bring a house back to marketable condition for 20K. So, 40% off minus 20 is 430. That's why I said 4's. Banks will improve properties if it improves their market position.

[Porsche-O-Phile]

Very common. I've been in discussions with a few realtors and mortgage lenders lately and while they all agree that there are some excellent deals now on foreclosure properties, one needs to get careful inspections on anything in case a vindictive former resident left any "surprises" or local punks took the vacancy as an opportunity to move in and trash stuff. One guy even recommended hiring private security for a property in escrow, or (more realistically) making friends with the neighbors to have them "keep an eye on things" while waiting to close.

These are crazy times we live in. No doubt.

[JavaBrewer]

I was at a friends house for a BBQ a few months back. His neighborhood is one of the typical newer KB homes suburban deals, 4-5 bdrm homes on 6-8K sq/ft lots, that sold for the $250's in 2002, went up to $750's at the peak, and now down to the $450's. Anyway, I was checking out his backyard and peered over his fence and noticed that the neighbor's backyard was a mess. He then mentioned the house was bank owned, empty for several months, and had been trashed. Walls broken, lots of stuff taken or smashed, graffiti/urine/feces/etc... throughout the home. Sure enough from another angle I could see the home's rear windows and doors were all kicked in. From the front the home appears normal and possibly occupied though the grass and plants need attention. I'll wager there are more than a few homes in the local neighborhoods under similar circumstance.

If my son ever participated in vandalism like those kids in the video I'd beat him to within an inch of his life and hold him accountable for repairs. Disgusting.

[jkarolyi]

Originally Posted by milt

Don't believe for a minute that a bank will respond to your quickness and eagerness. They will take their sweet azz time in evaluating the house and deciding what to do. Just keep in touch.

That's true...I'm prepared to wait for them. My eagerness is only to establish contact with the caretaking agent. Values are likely going down the longer we wait. Thanks for the advice.

Originally Posted by milt

AFA as getting the house for the high 2's, I don't think so. High 3's is 50% off and one can do a lot to bring a house back to marketable condition for 20K. So, 40% off minus 20 is 430. That's why I said 4's. Banks will improve properties if it improves their market position.

Again true, but the house itself is in need of serious rehab. It was built in the 60s, so there are small bedrooms, tiny bathrooms, and low ceilings in some places. The electrical still has 2-prong outlets. There also appears to be termite damage, and when I looked at it again this morning I noticed they had poked a few holes in the roof from the attic with a pick ax they so kindly left behind! Probably has water damage, although the hole looked pretty fresh. Used the pick ax on the HVAC ducting too, and of course to rip out accessible copper pipes in the house. There are dirty clothes, personal papers, and used diapers everywhere...I should take a video of it and post it on YouTube. There is no doubt in my mind that the owners were the slobs who did all this...I googled the address and the owners of this place ran a scrap metal business! He advertised on one site for catalytic convertors and copper pipes, and there is tons of various scrap metal (nothing vaulable like copper) around the yard

The foundation is concrete slab and the house has potential, but it is going to need a back-to-the-studs rebuild inside, and I doubt the bank is willing to do that. 20K won't put a dent in this place,I'm starting to think it will take 70 or 80K to rehab it back to standard. It's going to be hard to put a value on it...I'm just hoping they err in my favor.

Need work Milt?

[steve911]

Just be careful - it is still private property and your presence there could be deemed trespassing.

[Zeke]

Originally Posted by jkarolyi

That's true...I'm prepared to wait for them. My eagerness is only to establish contact with the caretaking agent. Values are likely going down the longer we wait. Thanks for the advice.



Again true, but the house itself is in need of serious rehab. It was built in the 60s, so there are small bedrooms, tiny bathrooms, and low ceilings in some places. The electrical still has 2-prong outlets. There also appears to be termite damage, and when I looked at it again this morning I noticed they had poked a few holes in the roof from the attic with a pick ax they so kindly left behind! Probably has water damage, although the hole looked pretty fresh. Used the pick ax on the HVAC ducting too, and of course to rip out accessible copper pipes in the house. There are dirty clothes, personal papers, and used diapers everywhere...I should take a video of it and post it on YouTube. There is no doubt in my mind that the owners were the slobs who did all this...I googled the address and the owners of this place ran a scrap metal business! He advertised on one site for catalytic convertors and copper pipes, and there is tons of various scrap metal (nothing vaulable like copper) around the yard

The foundation is concrete slab and the house has potential, but it is going to need a back-to-the-studs rebuild inside, and I doubt the bank is willing to do that. 20K won't put a dent in this place,I'm starting to think it will take 70 or 80K to rehab it back to standard. It's going to be hard to put a value on it...I'm just hoping they err in my favor.

Need work Milt?

Well, I said to bring it back to "marketable condition," not rehabbed to your specs.

I had an experience today that just about takes the cake. When I got to my job I thought I was gonna have to call 911 to quiet the riot. By 11 AM I had negotiated with the framer to take a sum slightly less than the contract, pick up and leave. I hate contractors, scourge of progress, honesty and reliability. I'm mixing concrete by hand myself come Monday morning to finish up what they left undone, amongst other things.

This is a beautiful patio structure covered with a solid roof and surrounded by French doors and coffered, or trayed ceilings. A solarium, if you will.