Wednesday, September 9, 2009
Destruction and Theft of Fixtures in Foreclosed Homes Has Become a Major Problem
People don't like being kicked out of their houses, especially when they feel it's happened unfairly. People who bought their houses at the peak of the real estate boom and can no longer afford the mortgage are seemingly unlikely to take a charitable attitude to those who are buying what used to be their house for a 1/3 of the price they paid. So, in a display of their displeasure, many ex-homeowners have taken to stealing fixtures and appliances, and also just plain vandalising their old homes on the way out. A good article on this problem in Arizona can be read here, although the lessons learned can be applied to anywhere there are mass foreclosures.