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About Steele V. Propp
Expertise
Can answer all questions on all areas of the foreclosure process both judicial and non-judicial. Also on loss mitigation and foreclosure prevention including loan modification, short sales and deed in lieu of foreclosure. Also can assist with questions on purchasing property in foreclosure and already bank owned (REO, Real Estate Owned). Both as an investor and/or a homeowner.

Experience
I have 18 years of working with the foreclosure industry as a Foreclosure Specialist. Currently work with over 20 major lenders as well as a dozen asset management companies. Head up the Bank Owned Property Division of the Schatz Real Estate Group located in Minneapolis, MN. Regularly consult and advise consumers from across the county.

Organizations
I belong to the Realtor Association at the National, State and Local levels. Also the Real Estate Investors Association. The Real Estate Educators Association. As well as number foreclosure industry organizations.

Publications
Consumer Reports, Money magazine, Consumer Digest and many local and national newspapers.

Education/Credentials
Bachelors Degree work in Psycholgy and Economics. Masters Degree work in Counseling Over 15 real estate designations. Specialized study of foreclosures and real estate.

Awards and Honors
Diamond Award from the Certified Residential Specialist (CRS) origanization. Chapter of the Heart as President of the Minnesota CRS Chapter

Past/Present Clients
GMAC Asset Management, First American REO, HomEquity REO, Keystone Asset Management and more.

You are here: Experts > Real Estate > Foreclosure > Foreclosure > Claiming property after foreclosure auction

Foreclosure - Claiming property after foreclosure auction

Expert: Steele V. Propp - 11/1/2009

Question
This is a two part question. I was a tenant in a home in AR that was foreclosed and recently sold at auction. Prior to the actual foreclosure I was going back and forth to get my personal items. In the mid March the locks were changed. I contacted the land lord and was told that the home is in foreclosure. But my land lord did not know anything about the locks being changed the was no company/individual listed as contact. What are my rights as a tenant(on lease) and in regards to my personal items? I have contacted the buyer who is a realtor/broker he is not wanting to release my personal items and have started to move them from the home states that the house was abandoned. What is my recourse.

Answer
It sounds like you were out the house when the locks were changed. As the house was "vacant" it sounds like the lender jumped the gun and secured the property. You see, according to every state statute I have seen it not only has to be vacant but also must be abandoned. If there is personal property in the house there should be a posted notice to the former occupant (you) on how to contact a bank rep and make arrangements to get your belongings. It sounds like none of that was done. And frankly, that is odd as most lenders tend to err on the side of caution when there are personal possessions in a property that they have secured.

So your landlord would not have known about this.

Now that the property has been sold at auction the new owner moves into the bank's position. I would contact this new owner immediately and tell him that you are preparing legal action against him if he does not make arrangements for you to get your items back. The fact that you have already contacted him and told him the situation puts him on notice that the property was never abandoned, just vacated. Let him know that he will be paying for everything that is missing.

I am not an attorney so I can't give you legal advice. However, you should be able to find out the state statutes that pertain to your rights. You may need to get the assistance of a lawyer but I think the new owner would be stupid to go against you on this one.

You may also have a cause of action against the lender for not giving you access to retrieve your items.

So my non-legal opinion is that you do have some serious rights in this situation. Try reasoning with the new owner. Then move on to the threat of legal action if that doesn't work. Carrot, then stick.

Let me know how this one goes. I am happy to get a follow-up.

Steele V. Propp
Certified Distressed Property Expert
http://www.MinnesotaForeclosureNetwork.com

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