Safegaurd Properties Inc Complaint

Safegaurd Properties Scamming Fannie Mae - Winterizaion Of Forclosed Properties

- Monticello NY
In August we looked at a home in Monticello NY. Upon inspecting the home, it needed a lot of work, but the house was in decent shape in the infrastructure. IE water pipes heat pipes, new furnace installed, foundation, and so on. Well we saw the house was winterized in August 2008 by Safegaurd Properties Inc. Its states on every one of their stickers they place on each item worked on that this service was done. After the closing in January, we went into the house to find a lot of the pipes were not drained properly causing freeze damage, costing about $3000.00. Its been known that this company is very evasive and is not performing the work that they are paid to do, again government being loose with taxpayer money. Number one, this is common with this company from its track record, number two, Fannie Mae is paying to protect their assets from damage, and this company is taking money and using the "AS IS" clause as their defense.

Can someone please look into this.. I want them to pay for the work they failed to back up, and failed to do properly.



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Reader Comments:

Posted by mikek on 03/03/2009
To Whom It May Concern, I have been in this line of work for almost 24 years. You mentioned Safeguard “winterized” this home and subsequently freeze damage occurred. First let start off by saying I have not worked for Safeguard since 1997. Like most other companies in this industry Safeguard has both a good and bad reputation, depends on who you talk to.
Lets discuss your situation, the contractor in the field is required to tag all fixtures with the winterization sticker, even if he fails the system. It’s our written report that tells the true story. The field crew explains everything in that report, if the system held pressure, if the plumbing was sound or if we found pre-existing freeze damage or other problems. Neither safeguard, nor the contractors in the field have any liability by telling the mortgage company the house has plumbing damage. It’s the mortgage company or Freddie and Fannie who may ultimately decide to sell the house “as is” or make repairs.
Another question I might ask, you first looked at the house in August but did not take possession until January. During that time, did some unsuspecting realtor or prospective buyer turn the water back on just to see if the pipes were good. If so, that winterization is null and void. I work in the Midwest and the months of Nov, Dec and January can get pipe breaking cold. I’m on your side, I hate sub standard work and I agree this industry does lack a certain level of accountability but we are watched and scrutinized. I agree with you that everything is not perfect on our side but you are making some assumptions regarding this freeze damage. Good luck and look on the bright side. In ten years you can brag about what a great deal you got on this foreclosed home and now you have 60% equity in it.




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