How do you prove occupancy?
How do you prove occupancy?
Acceptable Proof of Occupancy documents
- Lease contract.
- Rental Agreement.
- Contract of Sale.
- Statutory declaration from the New Occupant and a utility bill (e.g. rates, power, water)
- Statutory declaration from the property owner and the rent receipt from the new occupant.
Why would a random person 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 insurance companies 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 a mortgage company enter your home?
If the house is occupied, the mortgage company cannot enter the house, without your permission, until after a sheriff’s sale has taken place. If the house is not occupied, the mortgage company can have a representative forcibly enter the house, winterize the property (turn off water, gas, etc.)
What happens if the bank repossess your house?
After a repossession order, you have no house, but you may still have the debt. This depends on how much of your mortgage is unpaid. If the mortgage amount due is low, the bank or lender will return you your money after paying all the fees and recovering its debt once the sale is made. Banks just want their money back.
How many mortgage payments can you miss before repossession?
three payments
How long does it take for a bank to repossess a house?
The lender has the right to seize and sell mortgaged property once: The borrower is in default under the mortgage (usually this is a failure to pay an instalment), and. The borrower has not fixed the default within the time specified in the mortgage (if no time is specified, the period is one month or 30 days), and.
