San Diego Housing Bubble News and Analysis

I just wished the F-ing lazy banks would press charges. Well, on top of the fact they shouldn't have give out that loan in the first place. Dollar to doughnuts it was 0 down, option arm with 2 year 2% interest loan. lolololol

Can someone find the name of the owner so we can post it and thrash them. Better yet, lets hound the DA's office to go after them.

Personally, I've got no problem with people walking from their home. Stealing or Vandalize the place on your way out, and I would like to see you hung. What's the matter with people? America's got no pride or class left in them. I know if I were to walk from a place, I wouldn't leave so much as a gum wrapper on the floor.

They even took the bathroom fixtures with them! That is just pathetic.

they took the light fixtures, shower heads, ceiling speakers, appliances and others. I am shocked they didn't take the toilets ;-)

Well, in all fairness, they didn't take a sledgehammer to the counters, take the doors and break the windows. Does anyone know whether cement was poured down the drains?
What did it sell for at peak?

I wonder why they didn't take the granite countertops to reuse them in their next house.

I am completely shocked beyond what words can convey. They didn't take the fixtures on the bathtub or the shower door?!?!?!?!?

Those cabinets and fixtures are now in the house that the owner bought before defaulting.

Rustico, I'll bet you are absolutely right. LOL.

We've covered this before, the banks can't press charges, the D.A. can't charge them, it's entirely legal and they had every right to sledge the granite and say that they did it on purpose because they were mad, even though they had a loan and no equity, it was their's, they were on the deed and they owned it. You can also buy a house, decide you hate the appliances, replace them and throw the old ones away without offering to return them to the bank. You know that your entitled to slash your own tires even if you have a loan on the car (rental cars are different, you aren't the registered owner). California law requires vandalism is committed on the property of another (loans do not change property rights). You also can't be tried for attempted murder for attempting suicide, murder is another one of those laws that has a pesky clause requiring you do it to another person.

In an devious way, I'm happy it is happening. The reason I am happy is that the banks deserve it and they need to have these images burned into their memory. The lenders permitted the bubble to take place and hopefully they will learn their lesson and not give loans to people with nothing down and no ability to pay. If I were a bank executive I would be making a scrapbook so that in 20 years when someone proposed we reinstate zero down pay option loans to make more profit, we can sit down and have a little history lesson.

We've covered this before, the banks can't press charges, the D.A. can't charge them, it's entirely legal and they had every right to sledge the granite and say that they did it on purpose because they were mad, even though they had a loan and no equity, it was their's, they were on the deed and they owned it.

so they could torch the whole place too?

No, they can't set fires. That's arson, a crime.

OK. So they can't burn the place. But they can flood it? I heard of people just turning on the water and closing the door. Neighbors end up seeing water coming from the house down the street. Pretty messed up.

I believe I have seen in the note or trustee's deed,note seems to make more sense, an agreement to basically take good care of the house including performing maintenance to preclude damage. Of course the criminal courts are not going to deal with stolen fixtures from ones own property, even if there was ample evidence,or at least I think they would not. As a civil matter, as is usually the case,pusruing it is too expensive. It is really hard to get into trouble in this country. Evidence of that seems to abound.
I'd be surprised if even an arson incident would be pursued. Pitiful. I think they would only do it if the criminal person had the means to pay the insurer ,which of course these people don't.

Can't we at least bring back Tar'n'featherin? You'd probably go to jail for that and be sued to death.

jp, I guess they can flood it because I've heard of people doing that too.

Actually arson would be pursued and flooding may, arson endangers the neighbors and the environment, then incurs firefighting costs which can also be pursued. Flooding ends up in stormwater and environmental violations as well as possibly damaging neigbors property (getting into that "other people's property" area again). It's not that it's hard to get in trouble, it's quite easy. It is the fact that this country was founded on individual property rights and it's laws reflect that. Do what you like to yourself or your own stuff, stay away from others and their stuff. (actually the drug laws contradict that, but that is another argument).

The whole point is risk, those lenders gave their money away. If they stopped storing their cash in locked vaults and left piles of cash in the parking lot overnight would you feel the same pity if the homeless guys had the party of their life with the cash. That is a terrible analogy because misappropriation of found property is a crime (over $400 is a felony) but you get the point. See, pre-law wasn't a complete waste of time after all.

I remember seeing a news clip somewhere on one of the r.e. blogs of some lady burning her house and being prosecuted. Might have even been a thread on here.

They do it all the time...a lot of borrowers burn their house down twice. But it's not the bank that goes after the borrower, it's the insurance carrier. The bank will file an insurance claim once they are aware of the damage, the carrier will investigate, pay the bank's claim, and go after the borrower.

I tried to take a look at the listing after viewing the pics. It's already off the market. I wonder why?

I guess I don't understand things. To hear all the surprise and uproar about the conditions of foreclosures is absolutely comical. Don't get me wrong...trashing a home that goes back to the lender is akin to beating up a rental car and sending it back to Hertz but the reality is that this stuff will happen and nobody should express surprise about it. Yes the lenders should try to prosecute but I would think that overburdened lenders should simply focus on pricing the home right and getting rid of it.

CMG the home is still listed as active on the MLS.

SD Realtor

Our rear neighbor did a quick pack-up and left while theirs was still a short-sale, about a week before it reverted to bank owned. They did the whole strip the kitchen, fixtures, etc thing, but THEN they took the Solar off the roof! They just cut the pipes that run from the pool pump up to the roof, and somehow managed to get the huge black solar panels down - and we never even noticed. I can't figure out if they did it in the middle of the night or what.
The HUGE downside to that for us, though, is that their pool has not had a pump now for about a month, and is turning into a bug-breeding cesspool. We called the health department and mosquito abatement.

SC alum.
What would happen if you went over there and poured a gallon or two of bleach in the thing everyweek. I am not sure that would do it but it might. Maybe they could tell you at a pool store?

Or drain the pool...

how long has that house on the market? It is gone from the listing already?!

They do it all the time...a lot of borrowers burn their house down twice. But it's not the bank that goes after the borrower, it's the insurance carrier. The bank will file an insurance claim once they are aware of the damage, the carrier will investigate, pay the bank's claim, and go after the borrower.

I hope this is true. The insurance companies are ruthless.

I wouldn't drain someone's pool.If it cracks you might be liable for it and I have heard they can crack from it.

This home may go or should buy at 498K to 519 K range by vewing current trend or coming trend. Nothing worth to go more than a dime, furhter they are the losers

5yearswaiter

@Rustico -

That's actually what we've been doing. We have a pool, too, so we've been hurling extra bleach tablets over the fence into their pool every couple of days. The drain is at the bottom, and there's no WAY I'm going in there.
...
We've been trimming their giant palm trees, too, since they hang over our fence when they start to die. They've got really nice landscaping (in some areas) - it's a shame to watch it all start to die.

Temeculaguy is absolutely right, it's not criminal to remove fixtures from your own property while you still own it.

If he wanted to push to legal envelope, the owner could dismantle the house and cart it away without repercussions. I've heard of some people doing just that.

In related matters, the trustee sale is what it is. It's a private party transaction on behalf of the beneficiary.

Even if the loan is a recourse loan, the bank has do a court/legal foreclosure to get a deficiency judgment. The trustee can't give the bank a deficiency judgment only a judge can. So for all practical purposes, nearly all mortgages in California are non-recourse (purchase money or not).

someone made everything italics.

Hopefully this fixes things.

Anyway, did anyone notice that in the kitchen, it looks like the cabinet doors were never installed? Perhaps the images don't do justice to the kitchen, but it seems like there are no door hanging markings, either on the front or on the side of the cabinet walls where usually the latches are attached.

It seems more like someone was in the middle of remodeling the kitchen but never completed it. Then again, I could be wrong.

selfportrait

----- Sour grapes for everyone!