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Foreclosed homes being stripped bare.

hypocritexposer

Well-known member
The TODAY Show featured a segment detailing the latest “trend”: people in foreclosed homes are stripping them bare and selling the contents before turning the property over to the banks, going so far as even selling the toilets for $20.

In this video clip, NBC Reporter Kerry Sanders is talking with Zorene Brodek (sp?) who justifies her actions: (the key section is at 1:08)

Sanders: What about the banks?

Foreclosed Homeowner: Well, It’s their tough luck. They (the bank) are the ones who gave me a loan that was really ridiculous in the first place, so they are stuck with it.

video

http://thehipposass.blogspot.com/
 

Steve

Well-known member
hypocritexposer said:
The TODAY Show featured a segment detailing the latest “trend”: people in foreclosed homes are stripping them bare and selling the contents before turning the property over to the banks, going so far as even selling the toilets for $20.

In this video clip, NBC Reporter Kerry Sanders is talking with Zorene Brodek (sp?) who justifies her actions: (the key section is at 1:08)

Sanders: What about the banks?

Foreclosed Homeowner: Well, It’s their tough luck. They (the bank) are the ones who gave me a loan that was really ridiculous in the first place, so they are stuck with it.

video

http://thehipposass.blogspot.com/

the normal procedure after the auction/sheriffs' sale is for the bank to try to recover any difference between the home sale and the amount owed.. so by stripping the house they reduce the value.. and increase the amount they still owe...
 

backhoeboogie

Well-known member
It is theft plain and simple. Why is the DA not prosecuting? Why are these people not getting criminal records? I don't want to hire one of them.
 

Steve

Well-known member
backhoeboogie said:
It is theft plain and simple. Why is the DA not prosecuting? Why are these people not getting criminal records? I don't want to hire one of them.

technically until the foreclosure it is still their home.. so really it isn't a crime..

we have a similar situation three houses away from me here...
and while everyone has been called .. little can be done until the bank moves ahead with a foreclosure or seizure of the property and a notice is posted on it..
 

backhoeboogie

Well-known member
Steve said:
backhoeboogie said:
It is theft plain and simple. Why is the DA not prosecuting? Why are these people not getting criminal records? I don't want to hire one of them.

technically until the foreclosure it is still their home.. so really it isn't a crime..

we have a similar situation three houses away from me here...
and while everyone has been called .. little can be done until the bank moves ahead with a foreclosure or seizure of the property and a notice is posted on it..

Maybe. But it is not right. When they bought that home and financed it, the appliances and furnishings were part of the buying price, that the bank financed.

Likely the 35 forms you have to sign when buying a house will become 65 before this is over.
 

aplusmnt

Well-known member
Steve said:
hypocritexposer said:
The TODAY Show featured a segment detailing the latest “trend”: people in foreclosed homes are stripping them bare and selling the contents before turning the property over to the banks, going so far as even selling the toilets for $20.

In this video clip, NBC Reporter Kerry Sanders is talking with Zorene Brodek (sp?) who justifies her actions: (the key section is at 1:08)

Sanders: What about the banks?

Foreclosed Homeowner: Well, It’s their tough luck. They (the bank) are the ones who gave me a loan that was really ridiculous in the first place, so they are stuck with it.

video

http://thehipposass.blogspot.com/

the normal procedure after the auction/sheriffs' sale is for the bank to try to recover any difference between the home sale and the amount owed.. so by stripping the house they reduce the value.. and increase the amount they still owe...

Probably planning on filing Bankruptcy after its all said and done anyways.

Seems to me there should be some law that would be broken. If I remember correctly it seems the small print on my mortgage said something about no major repairs being done with out the Banks consent or approval, I know there is something like that. Maybe something in breaking a contract maybe?
 
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