Why do mortgage companies do occupancy checks?

Why do mortgage companies do occupancy checks?

Mortgage companies hire these professionals to verify that you and your family haven’t left your home. If the inspector determines that you are still living in the home, he will contact your mortgage lender with this information.

What can you do if someone is taking pictures of your house?

In the US, this is legal. You can do nothing because nothing illegal has been done to you. Presumably, your house is on a public street and is plainly visible. You cannot stop someone from photographing your home any more than you can prohibit then from looking at it.

Why would someone stop in front of my house and take a picture?

-Refinance: Lenders do order drive by photos in order to complete your file. -Short Sale: If your house is listed for short sale, banks might have ordered a drive-by BPO which requires exterior photos of your house. -Foreclosure: Again, lenders do order exterior BPO’s during/before they file for foreclosure.

Is it legal for someone to photograph my house?

It is not illegal to take photographs or video footage in public places unless it is for criminal or terrorist purposes. Taking a photo of a person where they can expect privacy (inside their home or garden) is likely to be a breach of privacy laws.

How do mortgage companies check for occupancy?

Verification. Lenders usually stipulate that homeowners have 30 days after closing to occupy a primary residence. To verify the person moving in is actually the owner, the lender may call the house and ask to speak to the homeowner. A tenant is likely to respond that the owner lives elsewhere.

Do I have to tell my mortgage company if I let my house?

A The short answer is that if you believe that it is a term of your mortgage contract that you must tell your lender if you move out and let the property (which is very likely to be the case), yes you should comply with the terms of the legal contract that you signed. …

What does it mean when someone takes a picture of your house?

It instructs a licensed real estate agent to perform a broker’s price opinion, also known as a BPO. This involves the agent photographing your house, the street in both directions, your house number, as much of the exterior as possible and the street name.

Is it harassment to take a picture of someone?

It is generally permissible for people to take photographs at any public place or any private place that they own or rent. With that said, if the photographer is taking photos for a purpose that violates the law — such as to harass or stalk — that’s another story.

Do insurance companies come take pictures of your house?

Your insurance company may use a third-party company to take photos of your home’s exterior. Underwriters at your insurance company will reference these pictures and recommend any necessary changes to your policy — this holds true for an interior inspection as well.

Can someone take pictures of your house without permission?

No, it is not illegal to take a picture of the outside of someone’s home so long as it is taken from a public place. That’s because there is no expectation of privacy in public. If the exterior of your home is visible from the street, anyone is free to photograph your home.

Why did someone just take a picture of my house?

The photographs reveal to the lender the condition of your house, your street and neighborhood. Along with additional comparable sales information taken by the real estate agent performing the research, the lender establishes the value of your home in order to substantiate the loan modification request.

Do mortgage companies check primary residence?

A mortgage broker will check the selected occupancy status, as the terms vary among loans for a primary residence, a secondary residence and for investment properties.

Can you have two primary residence?

The short answer is that you cannot have two primary residences. You will need to figure out which of your homes will be considered your primary residence and file your taxes accordingly.

What to do when someone takes a picture of you?

If you see someone taking your photo without your permission, it’s your right to ask him or her to stop. If you’re undressed and someone is taking your photo, put in a call to the police.

Why would someone randomly take pictures of my house?

Foreclosure. Your home is in the process of a foreclosure and the lender needs to know its condition. Generally the photographs are of the outside of your house, but occasionally you’ll be asked to allow the lender’s contractor to photograph your interior.

Is it illegal to take a picture of the Eiffel Tower at night?

Photographing the Eiffel Tower at night is not illegal at all. Any individual can take photos and share them on social networks.

What does it mean when a guy secretly takes a picture of you?

Originally Answered: What does it mean if a guy secretly takes a picture of you? He wants a picture of you. It can be for any reason. One will be he can remember your name with the face next time he sees you.

Do insurance companies come to your house?

Having the insurance company come take pictures or inspect your house is a good thing. They are looking for hazards that could cause a claim or even a lawsuit. The purpose is to protect you better and save you hassle & money in the long run.