Would a mortage company want to know if a borrower is letting a house fall apart. I've been having problems with a neighbr and I was wondering if this is a way to get rid of them. They have been sued a few times by others - they are still there.Does Mortgage Company Need to Know that a house is taken care of?
If he's making the house payment the mortgage lender could care less. Your idea of falling apart and their idea may be two different things. However, just because you don't like the person doesn't give you a right to try and run them out of the neighborhood. Next time you purchase a home, purchase in a community that has a Home Owners Association. You can get on the Home Owners Association board and then you can tell everybody what to do with the property that they pay taxes on.Does Mortgage Company Need to Know that a house is taken care of?
No, as long as they pay their Mortgage you can't do anything. However, you could go to the City and explain, that the grounds are not taken care of. The City will have to check it and according to their codes they will rule what your neighbors have to do, to keep up with the neighborhood.
Sorry, but to the first 3 posters - YOU ARE WRONG!
Yes, the lender cares that the property is being kept in good shape. In fact, in the note that a borrower signs at settlement, you promise to keep the house in good repair. AND the lender has a right to inspect the property at any time and if it's not in good repair, you are in default of the agreement and the lender could call the loan.
I would call the city and report them. There may be legal issues that the the city can handle. However, the odds of this are very very slim.
Maybe you could offer to buy their house, fix it up and then flip it.
Nope, as long as they are paying the mortgage, they don't care how the house looks. Now you can call the Department of Health if you think there may be health code violations and if it's that run down they may condemn the place.
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