Real Estate Pro Articles
   
   

The Sad Case of Foreclosed Homes



[Valid RSS feed]  Category Rss Feed - http://www.realestateproarticles.com/rss.php?rss=265
By : Tony Marino    99 or more times read
Though many sources are claiming that the end of the recession is at hand, we are all painfully aware that the incidence of foreclosures hasn't dwindled and may not for some time to come yet. The tragedy of foreclosures apparently isn't ending just with unfortunate mortgage holders losing their homes however, more and more vacant homes are falling victim to vandalism and occupation by people who don't own them.

The number one source of foreclosed home vandalism seems to be from the homeowners themselves as they vacate homes. Because foreclosure is such an emotional event, many of these people feel that they need to exact revenge on the banks that gave them the means to buy their homes in the first place. Not only are some of these owners stripping out all of the appliances out of these homes, but also cabinets, copper pipes and wiring, tiles, bathtubs, toilets, sinks, and air conditioners. It seems that some homeowners are removing any item out of their home that they anticipate might get them a dollar or two when they leave in an attempt to get a few dollars out of the house before they leave.

Another form of vandalism perpetrated by homeowners is one that is more destructive than just looting for sale able items; some homeowners, in their rage and disgust at losing their homes, seem to be committing as much rampant destruction to their properties as they can in some kind of misguided attempt to destroy as much of the home that they can. Homes have had their drywall smashed in, walls spray painted, food and garbage left to rot, and the taps all left on and the homes flooded, as well as many other destructive things.

Some vandalism along these same lines is perpetrated by strangers as well, but no vandalism seems to be committed with as much vigor and venom as that committed by disgruntled homeowners.

Some of the foreclosed homes have also become party sites for a variety of party-goers. Teen parties in these abandoned homes has become a serious problem in some areas; the party-goers often vandalize the homes by breaking windows and spray painting the interior of the residence as well as creating a disturbance in the neighborhood.

It has recently come to light that teenagers aren't the only ones trespassing and partying in vacant foreclosed homes though; Cheronda Guyton, a Wells Fargo senior vice president in foreclosed properties, has recently been exposed for living with her family in a foreclosed Malibu mansion and throwing lavish parties. While this family has been squatting in this luxury accommodation, Wells Fargo has apparently been refusing to show the property to prospective buyers when approached by realtors in the area. The bank is apparently investigating this situation.

It is looking that there will be no end to the incidence of vandalism and trespassing on foreclosed properties until either neighborhoods band together to keep close watch on the homes around them, or until the foreclosure rate reverses and the prevalence of vacant homes becomes more manageable for banks and law enforcement across the country to keep an eye on.


Related Articles



Actions
Print This Article
Add To Favorites



Sponsors

 

 

© All rights reserved to Real Estate Pro Articles