As of June 8, 2010 the LA city council passed a Foreclosure Registry Program (Ordinance No. 181185) in order to fix the foreclosure crisis. They established a residential property program. They developed a mechanism to protect residential neighbors and protect the properties subject to a foreclosure sale.
Any beneficiary or trustee who holds or has an interest in a Deed of Trust property in foreclosure. The property which a notice of default has been issued by a lender, or beneficiary of any deed of trust or REO property need to have the following requirements:
They want to have proactive inspections
Monthly leader inspections
Requirement to De-register properties
There is an annual registration requirement that is valid for one year. Registrations are due from the first of January til the 31st of January. The person that is responsible for registration is the beneficiary who first causes a notice of default. They are empowered to comply with the code enforcement orders. There has to be a sign that shows that trespassers are not allowed. This form is filled out through the Housing Department and it gets sent over to the Police Department. This is to ensure that if there are trespassers in the home, they will get arrested. Conduct monthly inspections that will make sure no one breaks in the home.
De-registering the property
The de-registration is only done when you need to do the reinstatement of the loan, and loan modification. Sale to third party, but it cannot be a REO property. To register your home for monthly inspections, property board up, fence up, or simply filling out registration forms please Registry Program Specialist Eddie at (213) 804-7437
Get your home inspected, boarded or fenced up to keep intruders out.
Don’t allow your property to get ruined to the ground. Hire the right team to get the job done. A team that can get the place cleaned up, and secure it at the same time. If you allow for others to mess up your home, you are increasing the chances of the property value to go down. You want the property to look at its best, and in order to do that you need to make sure you keep it clean.
Foreclosure inspections are no joke. There are possibilities that intruders are dangerous or carry dangerous pets that could possibly attack. These people obviously would not like to get kicked out of the property, so it is best to send LACPP trained professionals to clean up the place. It is never easy to get intruders out, but it is definitely doable. Once the trespassers are out our team of clean up experts make sure the entire place is cleaned up. No wires, no furniture, no trash, and no junk!
After the trash is taken out, our team makes sure all windows or glass doors are boarded up. This is to secure that intruders don’t break in to any windows or doors. This is a great way to keep the property from encountering any challenges that may come along the way. We do foreclosure registry inspections because we know the importance it is to keep the property safe and ready to be sold. That is why our team makes sure we try to do our foreclosure jobs with in a small period of time.
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