More than half of my inspections in 2008 were on vacant homes that had been foreclosed. Unfortunately, way too many of them also had significant damage to them, and, except for one, no one was witness to the damage, the fact that this happens to so many foreclosed homes leads one to the logical conclusion that the homeowner was responsible for the damage.
I think that some bank with lots of money (are there any of those anymore?) should take on one of these homeowners and make a high-profile case out of it to let the public know that anger that begets destruction cannot, and will not, be tolerated in a civilized society.
Thanks to Lynda Eisenmann of Brea, California, for the original post.
Via
Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA (Preferred Home Brokers):
We've heard how some homeowners on the verge of losing their homes to foreclosure have sold and/or ripped out everything, including the kitchen sink. For some it may be an attempt to make a few bucks and/or retaliation against their lender.
Last year one of my clients who bought a foreclosure property mentioned that she found used appliances for the home on Craig's list. Right after our closing she had commented how many matching sets (of appliances) were listed for sale and thought they must have come been ripped out of another foreclosure sale. 
Then last week a fellow REALTOR mentioned that a neighbor held a "Demolition Sale" on their soon-to-be foreclosed home. She said the owner sold everything he could even including the bathroom fixtures! Any and everything was for sale. I let her know that was a very serious situation and lenders were beginning to prosecute people for doing so.
Then just the other day I received an email alert from legal counsel for our Association of Realtors reiterating that fact.
The report said in summary, damages intentionally caused by the mortgage holder can be subject to criminal and civil penalties. In fact, removal of fixtures valued more than $100 constitutes a felony in the State of California and can result in a state prison sentence for a year or more.
Even fixtures totaling less than $100 can result in a misdemeanor and could include county jail up to one year and/or a fine up to $1,000.
Some may think it's about big business, you know the ones with deep pockets "getting even with the man" but situations like this can impact us all. We know that stripped down homes, whether they've been vandalized by outsiders or damaged by homeowners usually sell for considerably less than others. Sales like this further add to the decline in neighborhood home values.
So the next time you hear of someone contemplating something like this, educate and inform them of the costly consequences.
- Although these statues exist in California, I would imagine that other states must have similar laws on the books, check it out.
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Lynda Eisenmann, Broker ~ PreferredHomeBrokers.com serving Southern California cities for more than 30 years working with home buyers and home sellers. Text or direct 714 595-1494. CA Department of Real Estate License #00492040.
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Interesting post.
Was not aware of all of the penalties.
Thanks
Tony