Monday, October 29, 2018

Lenders And The "Right To Inspect"


For the most part, when I visit the home of someone who's fallen behind on their mortgage payment, the debtor is cooperative or at worst noncommittal when I explain why I'm there.

However, there have been a few occasions where the debtor has told me I have no right to photograph their home or attempt to talk to them in regards to their delinquency. This is sometimes accompanied by threats to call the police or consult their attorney.

Thursday, March 8, 2018

Delinquent Loans and Misplaced Priorities

door knock image

As soon as I reached the location of my current assignment, I became both angry and sad. A battered child's bike lay in the dirty scrap of a front yard. A few toys were also scattered about, mixed with empty pop bottles and other bits of trash.

The subject property was a rusty, battered old singlewide mobile home. Instead of curtains the windows were covered with blankets. The metal had been patched here and there with plywood. A tarpaulin covered part of the roof. The home sat in a rundown park filled with other mobile homes in similar condition. The reason for my visit was in plain view: a new crew cab pickup that probably cost upwards of $50,000.

Tuesday, September 12, 2017

Don't Knock Door Knocks


In the field services world it's generally understood that loan-related delinquency interviews, also known as door knocks, are on the lower rungs of the ladder when it comes to assignments.

To put it quite bluntly, this is the type of inspection that doesn't require much if any training -- except for a knowledge of the Fair Debt Collection Practices Act, so you don't get into trouble by saying or doing the wrong thing.