Foreclosure frustrations are boiling over with distressed homeowners taking their angst out on repossessed homes, causing destruction and damages prior to eviction that are causing lenders fits.
The local Sheriffs aren’t too pleased, either.
Rather than go quietly, some homeowners in default are getting payback by thrashing their former residences. And some of these disgruntled folks are even inviting their friends over to join the “demolition parties.”
Here’s one message board response from an eager participant:
“Great idea dude! Where’s the party? Invite me. Greedy banks never loses money anyways. Giving them as less profit as possible is a great idea! Can I bring my RPG?”
In addition to homeowner-planned destruction, local authorities throughout the nation are responding to and breaking up parties from teenagers and others who sneak into empty homes.
Here’s the deal: Trashing a home is also known as vandalism, which is illegal and punishable by law. Those who opt to sling sledgehammers and break windows will simply be making more problems for themselves that won’t go away anytime soon.
As if a ruined credit history wasn’t enough to worry about.
And those who gather inside empty foreclosure homes to party the night away are trespassing.
Try explaining that one to mom and dad … much less a judge.
Put simply, it’s not worth it. Don’t make a bad situation that much worse. Take the high road, learn from the experience and be a better person for it in the long-term.
It will save everyone — yourself included — a ton of time, money and peace of mind.
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June 26, 2008 at 10:43 pm
Noah
These situations are unfortunate. It is clearly where the owners have just given up hope at keeping the house and also have no hope at selling the property. Unfortunately, the world is full of people like this; but I think these occurences are not as common as the media might like us to believe. I think the majority of people will try to save their homes or sell their homes until the very end.
Noah@ShortOnChange.com
http://www.ShortOnChange.com
August 6, 2008 at 11:20 am
george
Noah, it is a grave sitution to begin with and if the homes value has plummented as most have trying to sell it and make nothing is not worth the time or energy. Trashing a home is not a good idea either.
May 21, 2009 at 8:04 pm
Truth
These people are disgusting – I would never dream of even leaving a place dirty and full of junk, let alone trashing a residence, after through fault of my own I defaulted on an obligation to a lender for many, many months which resulted in foreclosure, just as I agreed to and knew it would if I didn’t pay when I took out the loan and signed the loan agreements.
August 3, 2009 at 7:55 am
chrissy
You know I really have an opposite opinion. I look at the current federal Gov and just cry in disgust! I have not lost my home, nor will I loose it! So I am not in the crowd of the ones that have. But I have met people at garage sales, and hear the stories, I ask what about the programs the GOV put in place, and many have said the same it is crap! Mine and your tax dollars went to bail out the banks. Do you get any benefit from your tax money? If you do explain please, I want to know the secret.
Me I am on disability and was notified of lay off while on disability after a 13 year career with a company that almost killed me from stress and long hours, can I work now, not what I was doing before. I am still very sick. Do you have any idea what that is like. One day on the way to work and I have a true nervous break down.
How have I kept my home, I have never or will I ever do anything stupid with a mortgage, I have owned my house for 20 years. I am 42 now, so yes bought my first house at 22 yrs old. How smart saved saved saved, got a great deal a built up on that great deal to make it what I wanted. And never paid just one monthly payment but 3 every month when I was able. I have never borrowed against my house. Rule of thumb for me. If we needed to do something big we saved and saved to do it not financed it. Do I have credit cards no not a single one, and don’t ever want one.
I do think that the destruction is horrible, but I can also say the banks are not selling these homes for what was owed on them, maybe a few. They are sitting on them. And the owners know it. But the market and the credit crunch oh and the job market well, so many have no jobs now. And to many lived way above the level they should have been living at. And interest only financing should be illegal!