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Get Paid to NOT Trash your home upon Foreclosure Vacancy

I could not believe this latest information on the Foreclosure front. Just when you thought things were as unreal as they could be with the entire mortgage market meltdown, the amount of home owners that have walked away from their homes due to falling values and now add to this Trashing your Home for money ?

You heard me correct, check out this video segment. It appears that many homeowners angry with their banks refusal to work with them have been taking out their frustrations on the bank and the lenders by totally trashing their homes as they-vacate them. It has been so bad that many banks are now paying top dollar to the former owners to leave the property with a guarantee not to tamper with the home.

I believe that this footage is from the West Coast.

Has any one in the Tampa Real Estate Market observed this ?

What about Florida as a whole ?

Please comment if you have heard about this, or know anyone that has ?

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Posted by Theresa Townsend Tampa, FL www.GreaterTampaBayRealEstate.com on 04/09/2008 08:43 PM

Comments (7)

foreclosures trashing, paid to vacate, tampa foreclosures, florida real estate market, mortgage foreclosure, video

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7 Comments on Get Paid to NOT Trash your home upon Foreclosure Vacancy

APR

2008

Hey, some of them I've seen, paying them to leave them half decent is a cost savings. I have seen companies pay $10,000 just to shovel out the trash.

Usually cash for keys says the property must be broom clean.

Not had one where they have actually paid them not to trash their home.

Will let you know.

Regards,

Linda

Yep - they're doing it all over! Cash for keys and the soon-to-be-non-homeowners know how to milk the system. If this keeps up, I'm afraid we will see banks just doing surprise evictions.

Tina in Virginia

We actually had a property that the walls had holes in them where the copper pipes were removed! I think it is sad that the owners have to be bribed to leave a property without trashing it.

I work with foreclosure properties (on the buyers side) here in Georgia, and almost without exception, they have some degree of damage. Most often, all the ClosetMaid shelving is gone, and usually some light fixtures / door hardware. Makes no sense, but it happens. And yes, I have had direct experience with someone who was paid to "clean out and go". Crazy world.

APR

2008

I haven't heard of this here. I have shown foreclosures in the past and many of them were in terrible condition with wiring ripped out, plumping lines cut, etc.. With the widespread foreclosures, the banks are probably trying to minimize their losses figuring that if they pay the homeowners it will cost them less in the long run. Just my .02.

Interesting. I guess it makes sense for the banks to pay less to have the property vacated than to pay more for renovating and repairing the property.

SEP

2008

Even though people don't realize lenders do not want people's property. They have options to help borrowers through difficult financial times. Of course the further behind you become, the harder it will be to reinstate the loan and the more likely that they will lose their house but that does not mean that people cannot overcome such situations. If you want to learn more on how you can avoid foreclosure prevention there are some great sites which will help you such as www.prevent-foreclosures.net. Not only they offer help but also great tips on how you can avoid same.

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Get Paid to NOT Trash your home upon Foreclosure Vacancy

Has any one in the Tampa Real Estate Market observed this ?

What about Florida as a whole ?

Please comment if you have heard about this, or know anyone that has ?

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1 in 3 Home Owners with Negative Equity according to Zillow

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