The banks should pursue charges against these people for felony vandalism. Until the house is completely paid off, the bank is co-owner in the property. Damage in the amount excess of $5000 can make it a felony (up from a misdemeanor).
To do so, the banks would need to move real quick after NOD/NOT and monitor the property(something they are not used to doing). They should also notify that they current ‘owners’ will be charged with criminal vandalism and may see the inside of a jail cell should this happen before they vacate. They should notify the present ‘owners’ that they should notify them when they vacate, and if after vacating, they attempt to return and/or vandalize the property, they can be charged with trespass as well as potentially criminal vandalism.
Everybody else pays indirectly for this type of behavior in the form of higher interest rates and insurance rates as well as the reluctance of people to buy foreclosed properties and the potential of blight to the neighborhood. This does not account for the ecological toll in the form of a large volume of solid waste that results from this (replacing refrigerators, flooring, walls.. etc).
This behavior is very much like that of a spoiled child throwing a tantrum. Very good example these people are showing to any children they have. They deserve all the trouble the get from their children.
