We’ve all been talking about, hearing about, and worrying about the “housing crisis” in America for several years now.  Interest rates stay at historic lows and housing inventory stays high.  Much of that inventory includes homes in foreclosure with the banks. With the millions of distressed homeowners in the country, many are simply walking away from their homes, leaving them vacant.

According to a report from the Census Bureau and as reported by WTHR, Indianapolis is the second most empty city in the country with a 5.2% vacancy rate just below Tuscon, AZ.  When distressed homeowners default on their mortgage to the bank, the banks will eventually order occupancy checks on the property.  Many homeowners are already in communication with the banks either asking for loan modifications or are trying to sort through any possible options to keep their homes.  With these type of communications, the banks always ask “Are you still living in the home?”

The banks will order occupancy checks to verify that the property is being maintained and kept in fair condition.   The number of homes to receive Indianapolis occupancy checks for the bank is high and banks have contracted with law firms offering Real Estate Owned (REO) Services to help manage the defaulted properties and to perform occupancy checks.

This scene of vacancy is bad news for the banks and homeowners, but is great news for buyers looking for a good deal on a home.  Banks want these vacant homes off their hands and are ready to negotiate.

Aaron M. Rader is an Indiana Process Server and Marion County, Indiana, Bail Agent who is now offering Indianapolis occupancy checks to law firms providing Default and REO Services.  Call (317) 529-6650 or e-mail ProcessServerIN@Gmail.com for more information.