If a property on your block has gone into foreclosure and the homeowners have moved out, there is a likely chance that the property is sitting empty. The bank may have it listed for sale with a yard sign out front, but no other sign of life will be visible. If the house remains on the market for long enough, and the area is somewhat secluded, vandals may break in and cause damage, or squatters may move into the house and begin living there. These may be friends of the previous owners, taking advantage of the lack of security, or simply vagabonds who have finally found free shelter. In any event, you should take action to keep your neighborhood clean and prevent property damage to houses in the area.

The first contact that many homeowners will make is to the local police or sheriff's department. While this may be necessary if the property is being actively destroyed, there is a better way to go about reporting suspicious events. Before getting the authorities involved, which may create a further level of complexity, you should try and locate the current owner of the property and inform them of what is going on. This may involve calling the bank or the real estate agent listed on the sign hanging out front. They are the parties primarily responsible for the property after foreclosure, so it is in their interests to make sure it is taken care of. After all, a damaged property will sell for far less than one in normal condition, and neither banks nor real estate agents like settling for less money.

Thus, if the bank is the current owner of the foreclosed home, why not contact them before involving the police? If the bank does not express any real desire to fix the problem, and no damage is being done, then there may be no real problem. Since the lender owns the house, they have a right to decide how to dispose of the property, as long as they are not violating anyone else's property rights. This, of course, may not be much consolation to a neighbor watching his own property value decline due to the degradation of the community.

In the case of freeloaders squatting in the property, you really can not be sure they are there without the permission of the bank without speaking with the lender or its representative. There is an off-chance that one of the squatters is actually attempting to purchase the property and has been allowed in to inspect, make repairs, or stay in the property throughout the mortgage process. This may be a rare occurrence, but potential buyers are quite free to negotiate any terms they please with a lender when attempting to purchase a foreclosure property.

It is usually a better idea just to inform the bank of the presence of squatters or vandals and allow them to call the authorities. Many of them will contact the real estate agent or local police department and request that more care is taken to secure the area. Banks are not interested in seeing their properties damaged, because they will have to accept less of an offer on the open market to encourage a sale.

Properties that have been foreclosed are all too often subject to random acts of destruction, the moving in of squatters, and falling into disrepair the longer they sit on the market. If destruction is being committed or there is a possibility of trespassing, then you have to make a decision of whether to inform the owner or not. But, it is in your interest to do your part to ensure the security of all property owners and inform them of suspicious acts being committed that they are unaware of. Banks often find it difficult to sell properties after foreclosure, especially if they have been severely damaged, causing property values to fall throughout a community. By respecting every owners' property rights, though, and informing them directly of acts potentially violating those rights, we can all take care of our communities and help prevent more foreclosures.

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