Safeguard, a Delaware corporation based in Ohio, is the largest privately held company in the United States hired by mortgage lenders to determine whether a home in default or foreclosure is still occupied. They are to determine if foreclosed homes are vacant and if so, to ensure it does not lose value .
Safeguard however, has secured occupied houses in foreclosure, and secured houses not in foreclosure. It happened to a couple from Coconut Creek, Florida.
Mel and Harriet never missed a mortgage payment and paid off their mortgage 15 years ago. Recently, they returned home from a trip to New York to find that someone had broken into their house. The locks had been changed, the power was turned off, and some of their personal possessions were missing. Only, it wasn’t a burglar. It was Safeguard.
Attorney Scott Sobol described SafeGuard’s actions as “legalized burglary.” Not only was the couple’s home “musty” because of the power being off, but they suffered embarrassment at the idea that their neighbors would think that their home was foreclosed. Read the rest of this entry