Report: Owners of Foreclosed Homes Steal Appliances, Leave Houses in Disarray

FOXNews ^ | 2/4/09

[jennyjenny]

As I stated, it depends if those items were considered in the collateral when the bank decides if and how much they're willing to lend. If I'm not mistaken, if the bank takes a loss on re-sale after they've foreclosed, the judgment goes against the person they foreclosed on. The question is, would the house have sold for more if the people left the stove (which was included in the financing decision), thus reducing the judgment against them. And really, from my experience, taking a stove is the least of the worries in these types of deals. Doesn't make it any more right, imo.

[Mashood]

Well....you do own it. You have the bundle of rights to the property... all you have to do is pay your mortgage. You can cash-out-refinance it, paint it, tear out the carpeting and burn it, you can do whatever you want with it.

I understand your point.. but this is how the game is played. This is lawful. Just like a landlord assumes risk renting to someone, hopefully this someone will be responsible and not trash the place. The landlord can recoup some risk through security deposit and first months rent but when a renter trashes the place... Oh Well!

[Alice in Wonderland]

I just got a piece of property back . . . been fighting the guy thru both foreclosure and bankruptcy courts for two years. It took 3 people 8 hours to remove the trash he left. He took with him a shed, the 3-board fence, a gate, and the A/C unit.

[jennyjenny]

Well....you do own it. You have the bundle of rights to the property... all you have to do is pay your mortgage. You can cash-out-refinance it, paint it, tear out the carpeting and burn it, you can do whatever you want with it.

But we're not talking about people who pay their mortgages on time and in full.

I understand your point.. but this is how the game is played. This is lawful. Just like a landlord assumes risk renting to someone, hopefully this someone will be responsible and not trash the place. The landlord can recoup some risk through security deposit and first months rent but when a renter trashes the place... Oh Well!

I've actually seen quite a few judgments in favor of landlords who took renters to court over damages beyond what were covered with security deposits and one month's rent.

[jiggyboy]

LMAO, perfect!

[getmeouttaPalmBeachCounty_FL]

We’ve been so unfair to the “homeowners.” They deserve a parting gift.

[tomkat]

[netmilsmom]

>>Have you considered moving away?<<

Every day.
At this point though, we leave with nothing. No one will buy our house. We pack what we can, leave the rest and start fresh. We are not the kind of people to default, so we’ll be making the payments while we live out of our camper, wherever we end up.

So while hubby still has a job, we are staying put and saving. It’s all we can do.

All prayers appreciated though!

[Nervous Tick]

>> All prayers appreciated though!

Will do.