Foreclosed Owners Paid to Leave

Foreclosed Owners Paid to Leave, an article from Realtor.org, reports that according to a recent survey of real estate professionals by Campbell Communications, a marketing and research firm, nearly half of foreclosed properties are trashed by homeowners on their way out. The banks find it's not worth the cost and trouble to pursue charges against the destructive homeowners. Instead, many are trying to prevent home rage by giving the real estate professionals who take on the sales listing authorization to offer somewhere between $300 and $1,000 to occupants to get them to leave the property intact and clean. http://www.realtor.org/rmodaily.nsf/pages/News2008032806

Posted by Jude Sandvall on 03/31/2008 09:50 AM

Comments (4)

foreclosures, banks, lenders, aurora colorado, solutions

4 Comments on Foreclosed Owners Paid to Leave

Very interesting. I just don't understand how people can trash a house that they once loved. The again, I can't understand how people can hate someone they were once married to either.

03/31/2008 09:52 AM

by Lisa Friedman Central New Jersey Real Estate (Pinnacle Realtors)

Good point.

03/31/2008 09:54 AM

by Jude Sandvall (Realty Executives of Aurora)

can you charge someone for damagin a home while they still own it? Technically it is still their property

03/31/2008 09:57 AM

by Rob Muller - ABR, ASP, RCC, CNHS, LREA Cherokee County Real Estate (ReMax Town & Country)

They probably can't charge them but most mortgages have a clause that states that if the homeowner does not take care of the home that the bank can foreclose on it. In these cases that is already happening.

03/31/2008 10:06 AM

by Jude Sandvall (Realty Executives of Aurora)

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Real Estate Agent: Jude Sandvall (Realty Executives of Aurora)

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