House trashed before the bank gets it.

[golfproz]

From the Press Enterprise

http://www.pe.com/localnews/rivcounty/stories/PE_News_Local_D_repo12.251476d.html

Just before the bank took possession of a home in northwestern Riverside County, its former owners attacked the walls with paintball guns and smashed gaping holes in them.

They ripped out stair railings, banisters and cabinet doors in the half-million-dollar Eastvale house. Then they turned on the upstairs bathroom sinks, put down the drain stoppers and fled as the bank’s locksmith arrived to rekey the doors.

At least this is what real estate inspectors, working for the bank, concluded after they found the roughly two-year-old dream home soaked and halfway gutted. They say it wasn’t even the worst that they encounter.

“You can walk into all kinds of things because the people are angry they are being evicted,” said Lauren Rooney, a Corona agent who inspects homes just after lenders foreclose on them. “You get people who are really upset at the last minute, and they say, ‘We are going to make the bank pay!’ “

[NotCranky]

I met one of these bank inspectors last week when taking my kids to a park located across the street from a just foreclosed house he was looking at. He was pretty nervous, with good reasons I suspect.
When I bought my first repo this strange fellow came around and told me to get out of his house(after I had overhauled it). I calmed him down and told him how I came to be the owner. He left and never came back. I was burglarized a couple of times but this was Normal Heights in the early nineties and everybody was getting burglarized or worse.Let’s hope that crime doesn’t come back with a vengeance this time around.

[NotCranky]

I met one of these bank inspectors last week when taking my kids to a park located across the street from a just foreclosed house he was looking at. He was pretty nervous, with good reasons I suspect.
When I bought my first repo this strange fellow came around and told me to get out of his house(after I had overhauled it). I calmed him down and told him how I came to be the owner. He left and never came back. I was burglarized a couple of times but this was Normal Heights in the early nineties and everybody was getting burglarized or worse.Let’s hope that crime doesn’t come back with a vengeance this time around.

[kewp]

Those bastards bankers, lending poor people money.

AT LOW INTEREST RATES AS WELL!!!

/sarcasm off.

RE: Increasing crime. I’m watching the stats like a hawk and I’m getting the F outta dodge if they go up. One mugging is enough.

[kewp]

Those bastards bankers, lending poor people money.

AT LOW INTEREST RATES AS WELL!!!

/sarcasm off.

RE: Increasing crime. I’m watching the stats like a hawk and I’m getting the F outta dodge if they go up. One mugging is enough.

[HLS]

Going to be a whole new breed of BOYZ IN DA HOOD.

This is the mentality that the govt wants to save.
It’s not their fault, and it’s their home !!

After the damage is done, the lender should say “You’ve been Punk’d” or APRIL FOOLS, it’s really still your house.
You can move back in, and you still owe us $600K….

[HLS]

Going to be a whole new breed of BOYZ IN DA HOOD.

This is the mentality that the govt wants to save.
It’s not their fault, and it’s their home !!

After the damage is done, the lender should say “You’ve been Punk’d” or APRIL FOOLS, it’s really still your house.
You can move back in, and you still owe us $600K….

[bsrsharma]

It seems so strange that the lenders have no effective recourse against Theft/Vandalism even though they hold Title.

I have a puzzle: If the house was a trailer/mobile /manufactured home and the borrower moves away the house, what can the lender do?

[bsrsharma]

It seems so strange that the lenders have no effective recourse against Theft/Vandalism even though they hold Title.

I have a puzzle: If the house was a trailer/mobile /manufactured home and the borrower moves away the house, what can the lender do?

[HLS]

Major lender Loans are only done with a permanent foundation, recorded with 403… (with some work, they can still be moved~)

When a manuf isn’t permanently affixed, it isn’t real estate, it’s personal property. (Chattel)

Rates for affixed are about 6.50%.. Those who do lend on them as personal property will charge 15%++

In a day, they can be picked up, packed up and through the border at San Ysidro crossing…headed for coastal views.

Hasta La Vista, Baby.

[HLS]

Major lender Loans are only done with a permanent foundation, recorded with 403… (with some work, they can still be moved~)

When a manuf isn’t permanently affixed, it isn’t real estate, it’s personal property. (Chattel)

Rates for affixed are about 6.50%.. Those who do lend on them as personal property will charge 15%++

In a day, they can be picked up, packed up and through the border at San Ysidro crossing…headed for coastal views.

Hasta La Vista, Baby.

[cr]

Really though, we should bail these people out. Afterall, I’m sure that aggression is only a result of being hornswoggled into a loan the former owner didn’t know could go up.

[cr]

Really though, we should bail these people out. Afterall, I’m sure that aggression is only a result of being hornswoggled into a loan the former owner didn’t know could go up.

[NotCranky]

BSR,
I hope it is the case that you have not been the victim of a crime lately. I think if you had been or knew somebody who had been, you would know that if three nuns and a live camera from the local news were not on site to witness, not a damn thing is going to be done, even if there are good suspects. Exceptions, maybe murder and definitely bank robbery and shoplifting at Walmart.. Yes this is hyperbole but things are not good with regards to crime fighting and it is reflected in so much incivility in our society.

[NotCranky]

BSR,
I hope it is the case that you have not been the victim of a crime lately. I think if you had been or knew somebody who had been, you would know that if three nuns and a live camera from the local news were not on site to witness, not a damn thing is going to be done, even if there are good suspects. Exceptions, maybe murder and definitely bank robbery and shoplifting at Walmart.. Yes this is hyperbole but things are not good with regards to crime fighting and it is reflected in so much incivility in our society.

[Author]

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