Buyers' Revenge: Trash the House After Foreclosure

[Roy Courtney]

$90,000. Loss is no problem. Just look at all the money they save using BPO's and AVM's. They should turn a profit any day now! LOL

 

[Caligirl]

The worst I've heard yet:

http://abcnews.go.com/Business/IndustryInfo/story?id=4211173&page=1

 

[Alison Swain]

$90,000. Loss is no problem. Just look at all the money they save using BPO's and AVM's. They should turn a profit any day now! LOL

 

[Alison Swain]

We had an REO order a month ago that was a drive-by, because the folks were still in the house. Last one that I did personally had feces smeared all over the walls.

Lovely. Apparently, this public feces-depositing business is a well-known psychological phenomena (sp?) among crooks --- from burglars to foreclosure vandals. :Eyecrazy:

 

[moh malekpour]

Lenders Paying for Untrashed Foreclosures

http://www.thestreet.com/story/10417229/1/lenders-paying-for-untrashed-foreclosures.html?puc=lmhome

Some people are getting a lift from their foreclosures -- by lifting items from the houses before they leave.
And lenders are offering cash to stop that from happening.

Not long ago, on a brisk day in a middle class neighborhood in Nashua, N.H., Thomas Popik was looking at homes with a local realtor.

One struck him as particularly memorable.

The frigid air hit him when he walked in the door. Downstairs, something was obviously missing.

"It's going to be hard to sell a home without a furnace," says Popik, a research principal at Geosegment Systems, a banking data company.

 

[Alison Swain]

http://www.thestreet.com/story/10417229/1/lenders-paying-for-untrashed-foreclosures.html?puc=lmhome

What's a "furnace?"

 

[Hamlet]

Lovely. Apparently, this public feces-depositing business is a well-known psychological phenomena (sp?) among crooks --- from burglars to foreclosure vandals. :Eyecrazy:

Not to mention the psychological damage it does to appraisers.

The saddest thing is finding the pets left behind.

 

[Lloyd Bonafide]

Trash your house - go to jail

http://www.housingwire.com/2008/06/27/foreclosure-rage-equals-jail-time-for-mortgage-broker/

A former Mercer County, Penn.-based mortgage broker, 40-year old Scott McCuskey, decided to gut his $1.2 million property right before the Sheriff’s foreclosure sale on the courthouse steps — unfortunately, not an altogether rare occurrence for those who have spent any time working in default management.

Earlier this week, a judge sentenced him to three to 15 months in jail, and he also must pay more than $174,000 to the insurance company taking the loss because of his so-called “foreclosure rage.”

Sounds okay to me

 

[James Micozzi]

Please excuse me if this sounds like a dumb question but isn't what you just described Illegal? Does anyone know of any laws regarding destruction of property that is in a pending foreclosure?

until the bank takes possession, it is still the owner's house. they can destroy their own property without fear of prosecution, at least here in NY. Once the bank takes possession, then it is a different story.

 

[Hamlet]

Trash your house - go to jail

http://www.housingwire.com/2008/06/27/foreclosure-rage-equals-jail-time-for-mortgage-broker/



Sounds okay to me

Mercer County Judge Thomas Dobson scoffed at the argument, noting that McCuskey worked as a mortgage broker.

The dude was a mortgage broker, of course! His character in this incident would lead me to believe he was one of the slimy ones. Well, at least if they investigate any of his loans and find them to be of the naughty sort, they'll know where to find him.