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Foreclosure inspection process rife with incompetence, corruption – report

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Mortgage Professional America | 26 Mar 2014, 06:54 AM Agree 0
The pre-foreclosure inspection process is so rife with incompetence and corruption that it may need to be scrapped altogether, according to a government watchdog
  • Greg Tompkins | | 26 Mar 2014, 12:53 PM Agree 0
    Maybe they should have license appraisers do the inspection. Some one with some accountability and a license on the line. But wait, that would mean you would have to pay them.
  • Margaret Boldon | | 26 Mar 2014, 02:39 PM Agree 0
    A huge savings would be having the preservation companies that go in and winterize a property or repair mechanicals to be held accountable for their work when the property is taken over for pre-foreclosure. If taken care of properly the property would hold more value.
  • Stan J | | 26 Mar 2014, 03:56 PM Agree 0
    The crooked contractors in turn hire a bunch of desperate characters with no real estate background and pay them a minimal flat fee per inspection. Not much diligence or time is spent on each inspection with that approach. Others make the mistake of regarding mortgage processors or real estate salesmen as adequate experience. The former never get involved physically with property improvements and the latter is only experienced with promoting and closing the sale, not critiquing the integrity of the improvements. The best are former builders, skilled tradesmen or building inspectors. Experienced appraisers have limited expertise in that area as they are involved in the superficial aspects of property inspection.
  • Johnny | | 27 Mar 2014, 01:45 AM Agree 0
    The Wells Fargo repair scam shpould be investigated also. It is a joke the way it is handled. At least the dum asses could call Angies List.
  • sj schulz | | 31 Mar 2014, 04:25 PM Agree 0
    i had considered a position in property inspection, but the pay was $7 for each inspection-with no allowance for gas or distance, and only 10-15 inspections a week. who else would do this job, but those who are incapable of doing it right?
  • Robert | | 25 Jun 2015, 08:49 AM Agree 0
    National Field Service order mills like Safeguard Properties pay an average of THREE DOLLARS for these drive-by inspections. What do you expect for THREE BUCKS?
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