It never REALLY belonged to you!

I am astounded at the destruction and mutilation discovered in properties abandoned after foreclosure! Where did the current mentality of homeowners/renters come from in thinking it is their prerogative/privilege to destroy/steal or damage property they vacate? Everyone is aware that renters are 'leasing' property from the owner and that owners require security/cleaning deposits. However, I have spoken to landlords who've had their property damaged or destroyed beyond the limit of the deposit to include arson! Additionally, homeowners who become thieves of destruction to the property they have lost to foreclosure abound. They apparently do not realize they are actually tenants of the bank who holds their loan. They do not yet own this property until the loan is paid in full. Their down payment was just that: a payment they put down towards the repayment of the ENTIRE loan in the amount to which they agreed to pay to purchase the property. Lest we forget, this agreement was in the form of a legally binding contract. Perhaps more defaultees should be prosecuted for default or destruction. If people keep defrauding and defacing it may result in the banks requiring we pay for a loan for thirty years PRIOR to taking possession! Wouldn't that be a kick in the you know what!Linda Landry, REALTOR ® Exit Realty 1st Choice Tucson, Arizona
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  • Hi George; I agree with you people are mad! I can even relate as I have been attempting to get Wachovia to modify my loan to a fixed rate for nearly a year now with nothing but stalling. It is
    frustrating. Just as frustrating or maddening as the process of divorce especially when one
    feels betrayed. However, as with trashing your spouse to be's vehicle is a criminal offense
    so is trashing the property the you've stopped paying before paying the loan in full.
    I still think criminal charges being filed/investigated and resulting in arrests/convictions would stop the cycle.
  • I understand the moral issue and I do not agree with nor would I advocate damaging property. But if your looking for and honest reason this is happening look at the "Main Stream Media" they are painting Bankers like they are Gansters. We have all heard about the Sr. REO Vice President of Wells Fargo using the beach home and being fired for it. Stories like this making the news frustrate people that can not get a phone call back from these same companies about loan modifications. YThis is like gas on a fire of frustration.

    People are mad thinking the banks are getting bailed out and they are getting nothing... right or wrong that is the reason. I am sure the responce is greater in areas like S. Cal. and Nevada where the problem is greater than other areas. I ran a sip code in the area of S. Cal. where I went to high school.. it was not a large geographic area. Just in NOD filings there were 750 listing.... that is 1500 mad people that feel like no one feels their pain... so they put a hammer to the wall on the way out... To them it is no worse than being in a bad divorce and hitting your husbands truck with a hammer and we have all heard a story like that in our life time.

    I remember a thread not to long ago where the Agent went out to turn on the lights and put the sign up and all that was there was the slab and some tell tail signs of the fire that had burned the place down.
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