Many homeowners are frustrated by their foreclosures. As a result, there is a rising trend for vandalism of foreclosed homes. Former homeowners sometimes take plumbing, leave trash in the yard and even sometimes punch holes in the walls. The idea is to decrease the value of the property further so that the bank doesn’t recoup its losses.
CNN (via Yahoo!) reports on this somewhat disturbing trend in this video on foreclosures vandalized in Las Vegas.
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[...] Have an inspection. Many foreclosures are being vandalized by the outgoing occupants of the home. While this rage may be somewhat understandable, it is [...]
Posted by: LoanShak » 4 Tips for Buying a Foreclosure | April 15th, 2009 7:12 am |