fraud: Foreclosure - Is Stripping Criminal?
- 07/23/08 03:44 AM
More and more frequently homeowners are stripping their homes. Literally everything is removed: toilets, kitchen cabinets, bathroom vanities, air conditioning equipment, light fixtures, everything. I talked to a homeowner a few weeks ago who said he intends to take his pavers! So is stripping a house a criminal offense? The short answer is "Yes". Anything attached to the house is considered a part of the house. That includes air conditioning, water heaters, wiring, electric panels, built in cabinets like those found in a kitchen, bathroom vanities, toilets, etc. - all are considered "improvements" or "fixtures" and are encumbered by the mortgage. … (2 comments)
fraud: Yes George, Short Sale Buy Backs ARE Illegal
- 03/12/08 08:59 AM
This post is dedicated to a local Realtor engaged in the very dangerous practice of structuring short sale buy-back/lease backs. For those not familiar, a short sale buy back is where the Seller/Borrower (who is in foreclosure) enters into a Purchase Agreement with a relative, friend or whomever to buy the [distressed] property at a short sale discount. Unbeknownst to the lender, the buyer's intention is to buy the house at the short sale discount, allow the seller to remain in the house and then enter into an agreement with the seller (who is now a tenant) to buy back the house at a … (13 comments)
More and more frequently homeowners are stripping their homes. Literally everything is removed: toilets, kitchen cabinets, bathroom vanities, air conditioning equipment, light fixtures, everything. I talked to a homeowner a few weeks ago who said he intends to take his pavers! 
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