Prosecutors are now going after individuals who decide to strip their soon-to-be former homes during the foreclosure process.
Per the note that is signed by the borrower (the agreement with the bank) the fixtures are part of the property and not removable. There is now a movement and well there should be to stop such actions as home stripping.
One of the most recent – Man Convicted Of Stripping Foreclosed Home
Sadly this fellow was also a Realtor. GEEZ, that does not help our image.
I have taken clients to see homes that had empty space where there once were bathrooms, a platform for a water heater yet the appliance is gone, bare floors and not a light in the house.
I can understand the frustration of losing a home in foreclosure. It is a BIG loss, no doubt. It is important for us to encourage all involved in these situations not to make matters worse. Not only is there the loss but now you have theft/stealing added to the situation.
I guess if someone needed a place to “live” what a better way to get a long term “lease” at no cost to you. Of course, the space is rather small and the toilet is nothing like what you stripped from the house. You will get 3 meals a day but I would guess it might not be as nice of a meal as what you used to cook on your Wolff range. But just think how much you could save on clothes over the next few years – do you look good in orange?
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- What NOT to do when facing a foreclosure (richdadobservations.blogspot.com)