Inspection of Defaulted Property By Mortgage Holder
The mortgage holder must promptly inspect defaulted property to determine if the property is vacant and/or in disrepair. If the property is vacant, the mortgage holder must inspect the property weekly thereafter. If the property is occupied, the mortgage holder must inspect the property monthly thereafter.
Maintenance of Defaulted Property By Mortgage Holder
Mortgage holders are required to maintain defaulted property. Maintenance includes keeping the property free from the following: overgrowth; weeds; unauthorized accumulation of debris, circulars, and newspapers; junk vehicles; disrepair; unsecured buildings; and graffiti and vandalism. Pools, spas, and pool enclosures must be maintained and secured.
Posting of Vacant Defaulted Property By Mortgage Holder
If the property is vacant, the mortgage holder must post the property with information on how to contact its local contact person. Said posting shall be no less than 18 inches by 24 inches, in a font visible from 45 feet stating the following language: