Foreclosure Home Rage - Just trash the place on the way out

@whittby (3073)
United States
April 23, 2008 4:54pm CST
Worth reading and watching: This Wall Street Journal story and video about "home rage" in Las Vegas -- when owners of foreclosed homes trash the place on their way out the door. The story quotes a local agent, Joe Kraemer, who says vandalism and outright theft are the rule rather than the exception. "Washer-dryer, refrigerator? Always gone. No matter what." Other common departure tricks: flooded houses, and the old cement-down-the-toilet trick. These are some angry former homeowners. The story explains that this is why banks and lenders pay a kind of ransom known as "cash for keys" -- up to $2,800 in one Vegas example -- to persuade homeowners to leave without trashing the place first. Isn't this a crime - shouldn't these people be prosecuted? What kind of example are they setting for their children? What do you think of the bank paying owners to leave WITHOUT trashing? http://latimesblogs.latimes.com/laland/2008/04/foreclosure-hom.html
2 people like this
5 responses
@Lakota12 (42681)
• United States
24 Apr 08
yup that might work they do have to be mad at foreclosure for there is no telling how long they have been paying on the house. But really the bank should work out something iwth the owner whre neither loses
2 people like this
@whittby (3073)
• United States
25 Apr 08
I understand these people being upset for sure. If the banks had something in place before all this happened, they wouldn't have all these empty houses sitting here now.
@Lakota12 (42681)
• United States
25 Apr 08
thats for asure!
1 person likes this
@bagumbayan (2706)
• Philippines
24 Apr 08
About a week ago I read about trashing thing and about to open that subject for discussion. In a way the bank is just trying to reduce whatever is left of them. But these people whose house were foreclosed must be given some sort of punitive action. Or other than paying them, in every contract signed, trashing, dilapidating or destroying the building, homes must not be done or else the owner be given days in court.
@whittby (3073)
• United States
25 Apr 08
I know these people are upset, sometimes the mortgage company gave them a mortgage that is just this side of criminal too. They found out too late. But two wrongs don't make a right.
@alamode (3073)
• United States
24 Apr 08
Having been close to losing a home because of enormous medical bills, I can understand the rage... someone or something has killed your dream, and the only thing to lash out, at without spending the rest of your life in prison, is the house. Luckily, we made it through, but some people have no options.
@whittby (3073)
• United States
27 Apr 08
I understand the anger and frustration myself - we've been in this situation. Some people will never recover and own another home.
1 person likes this
@alamode (3073)
• United States
27 Apr 08
It took some hard cuts... lots of hot dog and potato meals... but we held on. I also enlisted the help of, believe it or not, our creditors! By talking to them every week and letting everyone know what we were doing and who would get some money when, they really worked with us to get things straight. I sent them all thank you cards when we finally pulled it together and had things back on schedule.
1 person likes this
@suehan1 (4355)
• Australia
27 Apr 08
this is hard as i can understand their frustration at losing their home.i also know that some of the motgage people can be very rude when foeclosing on a property.so i think they need to be understanding of people about to face losing their homes,so that they will not trash the property,because the more money they can recoup the better for everyone.cheers sue
1 person likes this
@whittby (3073)
• United States
2 May 08
I hope the laws and procedures get changed real soon. Some of these people are good people that have lost their dream - they're not deadbeats. I'm not excusing the behavior though.
@4mymak (1796)
• Malaysia
24 Apr 08
it is understandle that people would be upset because they're being thrown out of 'their' homes... but why were they not paying to the bank as they should... everyone have their own problems + reasons, i guess, but thrashing the place, vandalising it... it is still a crime.. especially.. when they're actually damaging another person's property..
1 person likes this
@whittby (3073)
• United States
27 Apr 08
I know some of these people were targeted by predatory lenders, but we have the responsibility to do our homework on financial matters. I think we have to take responsibility for our actions regardless and do the right thing.