[ARCHIVED THREAD] - Foreclosure next door (Page 1 of 2)
Posted: 6/15/2011 6:12:20 PM EDT
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So my neighbor is being foreclosed on and is loading up her stuff today. They are the problem neighbor so we are happy to see them go. We heard power tools this afternoon inside of the house. Tonight we notice that the outside air conditioner unit has been taken. It appears she is gutting her house by taking the wires, fixtures, etc...
Anybody know if anything can be done to prevent this? Can the mortgage holder do anything? Or will we just have to take another blow to our property value? Thanks for any input. |
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I'd contact the mortgage holder and tell them what you have observed. Perhaps they can hold them accountable for the damage somehow. I hate it when morons react to their own stupidity by taking it out on the house. Someday, someone will get a good deal on a home when they buy it and fix it up. |
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So my neighbor is being foreclosed on and is loading up her stuff today. They are the problem neighbor so we are happy to see them go. We heard power tools this afternoon inside of the house. Tonight we notice that the outside air conditioner unit has been taken. It appears she is gutting her house by taking the wires, fixtures, etc... Anybody know if anything can be done to prevent this? Can the mortgage holder do anything? Or will we just have to take another blow to our property value? Thanks for any input. Call the cops and tell them a theft is taking place. ETA: Good luck calling the 'mortgage holder'... first, it's hard as hell to even figure out who is holding the mortgage (May not be in public record, although it 'should be'), and secondly... what the hell is some guy in India gonna do for you anyway? 
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Tell me I have a bad attitude, but I find it hard to care about any of the shenanigans that are going on these days.
At least she's leaving the house, vice squatting in it 'til thrown out. We had a case in my home town where the inhabitants (not owners since they weren't paying the mortgage) were actually allowed to stay in the foreclosed house until the house was sold...when they were asked to leave they wanted th bank to cover their moving (to where, I don't know) expenses...which the bank did. So, however many months rent free, paid moving expenses...and then they trashed the house on the way out. |
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They are more than likely going to be sued (bank) for the remaining amount of the loan. I am pretty sure SC isn't a state where the bank cannot go after your ass if you default on your loans. Not really likely. I've never actually heard of a bank suing for lost value. |
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Oh, and don't forget to thank her for trashing the value of your house as well, while she's at it That's the sad part. To tell you the truth, I don't think you'll find too many neighborhoods where there isn't an unoccupied / foreclosed property - so it's not like this house is going to change his situation drastically from other places. Who knows? If the OP has the cash and skills, he could purchase it cheap off of the bank and then rent / sell it himself. |
| Yeaouch! Took the A/C unit? In my old neighborhood a family foreclosed nextdoor to us and took all the built in appliances, fixtures, broke faucets, etc. That house was vacant for about 8 months I think. I would recommend cutting the grass in the front and back to not make your neighborhood look like shit. I did when they foreclosed and it makes a world of difference. If you just do the front you will get snakes/rats/other critters living in the grass in the backyard and you don't want that next to your house. |
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They are more than likely going to be sued (bank) for the remaining amount of the loan. I am pretty sure SC isn't a state where the bank cannot go after your ass if you default on your loans. Not really likely. I've never actually heard of a bank suing for lost value. If I was the bank, I would do that with every single one of my foreclosed properties. If I could get ten cents on the dollar from a collection agency on the loss, that would be worth something. |
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Oh, and don't forget to thank her for trashing the value of your house as well, while she's at it That's the sad part. To tell you the truth, I don't think you'll find too many neighborhoods where there isn't an unoccupied / foreclosed property - so it's not like this house is going to change his situation drastically from other places. Who knows? If the OP has the cash and skills, he could purchase it cheap off of the bank and then rent / sell it himself. That could be part of my plan. Seriously our other neighbor was foreclosed on and the house sold for 60% of what we paid. As far as figuring out who the mortgage holder is that's easy.. It's in the foreclosure notice in the paper. |
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They are more than likely going to be sued (bank) for the remaining amount of the loan. I am pretty sure SC isn't a state where the bank cannot go after your ass if you default on your loans. Not really likely. I've never actually heard of a bank suing for lost value. I depends on the state. The states handle it very differently. |
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Oh, and don't forget to thank her for trashing the value of your house as well, while she's at it That's the sad part. To tell you the truth, I don't think you'll find too many neighborhoods where there isn't an unoccupied / foreclosed property - so it's not like this house is going to change his situation drastically from other places. Who knows? If the OP has the cash and skills, he could purchase it cheap off of the bank and then rent / sell it himself. That could be part of my plan. Seriously our other neighbor was foreclosed on and the house sold for 60% of what we paid. As far as figuring out who the mortgage holder is that's easy.. It's in the foreclosure notice in the paper. Just make sure that you're not gambling any money in the rehab of the home. The market is still squishy and you need to be able to sit on this thing for awhile without it putting a drain on your finances. If they're just punching holes in the drywall, you can do that yourself. If they're tearing out the wiring out of the walls, then you will have to have an electrician come in and do that work - very expensive....same with the plumbing. |
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Oh, and don't forget to thank her for trashing the value of your house as well, while she's at it That's the sad part. To tell you the truth, I don't think you'll find too many neighborhoods where there isn't an unoccupied / foreclosed property - so it's not like this house is going to change his situation drastically from other places. Who knows? If the OP has the cash and skills, he could purchase it cheap off of the bank and then rent / sell it himself. That could be part of my plan. Seriously our other neighbor was foreclosed on and the house sold for 60% of what we paid. As far as figuring out who the mortgage holder is that's easy.. It's in the foreclosure notice in the paper. IF the title was filed properly in the first place (if it went through MERS from 2004-2009, there is easily a 90% chance that it was not done properly and there will be a cloud on the title) IF you can get clear title, you can do well with this. MERS really screwed things up. |
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They are more than likely going to be sued (bank) for the remaining amount of the loan. I am pretty sure SC isn't a state where the bank cannot go after your ass if you default on your loans. Not really likely. I've never actually heard of a bank suing for lost value. If I was the bank, I would do that with every single one of my foreclosed properties. If I could get ten cents on the dollar from a collection agency on the loss, that would be worth something. No you wouldn't. Not with thousands (or tens of thousands) of foreclosures happening... you'd need every damn law firm you could lay hands on and expend more money trying to get blood from a rock than you'd ever get back. |
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They are more than likely going to be sued (bank) for the remaining amount of the loan. I am pretty sure SC isn't a state where the bank cannot go after your ass if you default on your loans. Not really likely. I've never actually heard of a bank suing for lost value. I depends on the state. The states handle it very differently. Different states have different foreclosure processes, but the process of suing for lost value is pretty uniform... uniformly a pain in the ass, to be specific. |
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They are more than likely going to be sued (bank) for the remaining amount of the loan. I am pretty sure SC isn't a state where the bank cannot go after your ass if you default on your loans. Not really likely. I've never actually heard of a bank suing for lost value. I depends on the state. The states handle it very differently. Different states have different foreclosure processes, but the process of suing for lost value is pretty uniform... uniformly a pain in the ass, to be specific. I guess I should have said that the frequency varies a lot between states. In Texas, banks will go after you if they can find a reason (fraud, for example). Move up to Oklahoma, and it doesn't seem to happen much (as far as I know). I am not sure that it's easy to do in New Mexico. And so forth. |
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They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. |
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They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. |
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Call the mortgage company and document it with video for future use.
You know what to do. Before people say, screw the banks, let them take this stuff, the stuff belongs to the bank. Period. And if you don't care about that, think how hard it is going to be to sell a gutted house. Do you want a permanently empty house across the street? With the riff-raff and teen angels breaking in to do dope and maybe pull copper out ot the wall for their meth habit? |
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Quoted: Quoted: Quoted: Quoted: They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. What makes you think what the neighbor is doing is illegal? Pretty odd behavior, but maybe they bought the air conditioning unit? The bank owns the house, not the appliances. I'm not casting judgment on their actions, but to call what they're doing illegal is jumping to a very likely incorrect conclusion IMHO. Frankly, I'm not even sure it's immoral if their claim to those appliances is within the law. |
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Oh, and don't forget to thank her for trashing the value of your house as well, while she's at it That's the sad part. To tell you the truth, I don't think you'll find too many neighborhoods where there isn't an unoccupied / foreclosed property - so it's not like this house is going to change his situation drastically from other places. Who knows? If the OP has the cash and skills, he could purchase it cheap off of the bank and then rent / sell it himself. That could be part of my plan. Seriously our other neighbor was foreclosed on and the house sold for 60% of what we paid. As far as figuring out who the mortgage holder is that's easy.. It's in the foreclosure notice in the paper. This could be worth a shitton of equity if your timing and real-fu is strong. Remember its harder to get investment property loans and need a bigger down for it. |
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They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. What makes you think what the neighbor is doing is illegal? Pretty odd behavior, but maybe they bought the air conditioning unit? The bank owns the house, not the appliances. I'm not casting judgment on their actions, but to call what they're doing illegal is jumping to a very likely incorrect conclusion IMHO. Frankly, I'm not even sure it's immoral if their claim to those appliances is within the law. Common sense. |
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Quoted: Quoted: Quoted: Quoted: Quoted: Quoted: They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. What makes you think what the neighbor is doing is illegal? Pretty odd behavior, but maybe they bought the air conditioning unit? The bank owns the house, not the appliances. I'm not casting judgment on their actions, but to call what they're doing illegal is jumping to a very likely incorrect conclusion IMHO. Frankly, I'm not even sure it's immoral if their claim to those appliances is within the law. Common sense. So you don't have an answer. I understand...  |
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Quoted: Quoted: Quoted: Quoted: They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. I've seen cases here where they have thrown the firdge and stove in the dumpster when cleaning the house including other things that make you go WTF It aint illegal and it aint immoral, just a sign of the times  |
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They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. What makes you think what the neighbor is doing is illegal? Pretty odd behavior, but maybe they bought the air conditioning unit? The bank owns the house, not the appliances. I'm not casting judgment on their actions, but to call what they're doing illegal is jumping to a very likely incorrect conclusion IMHO. Frankly, I'm not even sure it's immoral if their claim to those appliances is within the law. Common sense. So you don't have an answer. I understand...
I did have an answer. I typed it out for you and everything. |
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They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. I've seen cases here where they have thrown the firdge and stove in the dumpster when cleaning the house including other things that make you go WTF It aint illegal and it aint immoral, just a sign of the times
You can dress it up and justify it any way you want - it's still a scumbag move. Need a pressure washer? |
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Hey, it's not like they cut their house in half with a sawzall. |
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I was really wishing it was vertical. |
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I finished a cleanup job last week. Retail went TU. The renter and friends not only took everything but the walls but got into the attic and cut out all the copper water pipes too. Owed months of back rent and loans from the owner. Did a midnight bug out. Even unbolted and stole the john. Some people... |
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Tell me I have a bad attitude, but I find it hard to care about any of the shenanigans that are going on these days. At least she's leaving the house, vice squatting in it 'til thrown out. We had a case in my home town where the inhabitants (not owners since they weren't paying the mortgage) were actually allowed to stay in the foreclosed house until the house was sold...when they were asked to leave they wanted th bank to cover their moving (to where, I don't know) expenses...which the bank did. So, however many months rent free, paid moving expenses...and then they trashed the house on the way out. Yeah dude you have a bad attitude. My mom and i are getting into the foreclosure market and flipping houses after i got laid off from a PD and we picked up one at auction last month. We served the homeowners an eviction notice last week and i would be SUPER PISSED to hear that the guy who couldnt fufill his obligations to the bank and pay his bills was now stealing out of my own pocket and taking food off my table. If hes taking an AC unit its probably expensive enough that the guy is committing a felony. Just because the guys loosing the house doesnt mean that the banks the one who looses. Alot of these mortgages are being purchased by regular guys like me. |
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Oh, and don't forget to thank her for trashing the value of your house as well, while she's at it That's the sad part. To tell you the truth, I don't think you'll find too many neighborhoods where there isn't an unoccupied / foreclosed property - so it's not like this house is going to change his situation drastically from other places. Who knows? If the OP has the cash and skills, he could purchase it cheap off of the bank and then rent / sell it himself. Probably correct (but NOT in my neighborhood) but each/every foreclosure affects the value of the remaining homes. |
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Tell me I have a bad attitude, but I find it hard to care about any of the shenanigans that are going on these days. At least she's leaving the house, vice squatting in it 'til thrown out. We had a case in my home town where the inhabitants (not owners since they weren't paying the mortgage) were actually allowed to stay in the foreclosed house until the house was sold...when they were asked to leave they wanted th bank to cover their moving (to where, I don't know) expenses...which the bank did. So, however many months rent free, paid moving expenses...and then they trashed the house on the way out. Yeah dude you have a bad attitude. My mom and i are getting into the foreclosure market and flipping houses after i got laid off from a PD and we picked up one at auction last month. We served the homeowners an eviction notice last week and i would be SUPER PISSED to hear that the guy who couldnt fufill his obligations to the bank and pay his bills was now stealing out of my own pocket and taking food off my table. If hes taking an AC unit its probably expensive enough that the guy is committing a felony. Just because the guys loosing the house doesnt mean that the banks the one who looses. Alot of these mortgages are being purchased by regular guys like me. Are you making sure that your title insurance covers you for a cloud on the title from an incorrectly filed MERS title? If not, you should make sure that you are. |
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Same thing's gonna happen at The White House. You know, you hit upon something that really chaps my hide as they say. When Clinton/Gore left the White House, it was reportedly trashed. Now based on what I've seen of George and Laura (especially) Bush, do you have any doubt that the WH was anything less than spectacular/pristine when "O & M" inherited it? I don't. What do you think it will look like when the new owners move it? Any doubt there? |
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Quoted: purposely venting refrigerant carries a HEFTY fine if the EPA is ever notified. I think something like $25,000.00So my neighbor is being foreclosed on and is loading up her stuff today. They are the problem neighbor so we are happy to see them go. We heard power tools this afternoon inside of the house. Tonight we notice that the outside air conditioner unit has been taken. It appears she is gutting her house by taking the wires, fixtures, etc... Anybody know if anything can be done to prevent this? Can the mortgage holder do anything? Or will we just have to take another blow to our property value? Thanks for any input. |
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Quoted: Quoted: So my neighbor is being foreclosed on and is loading up her stuff today. They are the problem neighbor so we are happy to see them go. We heard power tools this afternoon inside of the house. Tonight we notice that the outside air conditioner unit has been taken. It appears she is gutting her house by taking the wires, fixtures, etc... Anybody know if anything can be done to prevent this? Can the mortgage holder do anything? Or will we just have to take another blow to our property value? Thanks for any input. Call the cops and tell them a theft is taking place. ETA: Good luck calling the 'mortgage holder'... first, it's hard as hell to even figure out who is holding the mortgage (May not be in public record, although it 'should be'), and secondly... what the hell is some guy in India gonna do for you anyway? With Mortgage bundled securities, it's a mess to figure out who holds the mortgage, the bank or the investment group |
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They can do just about whatever they want to that house except burn the house down Ask what they want for the appliances, garage door openers, furnace and kitchen cabinets, you might be able to score a pretty good deal Scumbag move. Appliances will either be stolen by someone else, or stolen by the asset management company's cleaning crew if they're worth a lick. Same with everything else that isn't bolted down. I'm not going to let someone else's illegal behavior act as a permission slip for immoral behavior of my own. What makes you think what the neighbor is doing is illegal? Pretty odd behavior, but maybe they bought the air conditioning unit? The bank owns the house, not the appliances. I'm not casting judgment on their actions, but to call what they're doing illegal is jumping to a very likely incorrect conclusion IMHO. Frankly, I'm not even sure it's immoral if their claim to those appliances is within the law. Have you ever purchased a home in the secondary market? A very specific contract is (should be) drawn up indicating what is and is not included with the house...appliances, fixtures, A/C, etc. are NORMALLY included in the purchase price. So, in practice, everything stays IN the house unless specifically omitted by agreement...therefore, the neighbor is probably acting in ill will and against the norm...no one is jumping to conclusions IMO. |