Neighbors say he is taking out his frustrations. It went from dumping boxes of junk into the backyard, to ripping cabinets off the walls. It’s happening all over the USA, especially in Phoenix Arizona where foreclosures are rampant!
The video at this link will show what people are stripping their beloved homes bare just before they leave their foreclosed upon homes,
http://articles.moneycentral.msn.com/video/default-ap.aspx?cp-documentid=37415769-9c01-479e-9902-f9a0cf60b663. And it’s no laughing matter since not only police but the FBI is getting called upon to find and procecute the people doing this.
Banks will require them to wait longer before applying to refinance. Also, the homeowners in our example destroyed their net worth on legal title basis. Banks do not often pay for pest reports, repairs or home warranty plans. Banks and mortgage companies tend not to go after the owners who vandalize because the cost outweighs the benefits. Therefore, with no consequences, half of those who have to leave trash their homes.
Lincoln, who is based in Ahwatukee Foothills but represents properties all over town, said the problem is most widespread in Valley neighborhoods that were built during the housing boom a few years ago. While some homes are stripped by cash-strapped former owners, others are targeted by strangers. Lincoln said one of his clients purchased a bank-owned house in Tolleson. Before it closed, thieves posing as pest-control workers broke in and removed $4,000 in appliances!
Homeowners caught in the act may be subject to criminal prosecution, including damage and defrauding a secured creditor. Authorities must be able to prove that is was the homeowner that stripped the home of valuables, and that the person knew it was illegal to do so. Homeowners would default on mortgages while losses on mortgage-backed securities would drain retirement savings from 401(k)s and pension plans. Taxpayers would ultimately be hit with a large bill.
In addition, police tracked down teenagers who told them what happened but denied being involved. There have been no arrests. Police agencies around the country report that buildings abandoned after foreclosure are contributing to higher property crime rates. Since those properties ?are often vandalized for any items of value, inhabited by squatters, or used for the manufacture of drugs, the slum-like conditions spark a downward spiral that radiates throughout the community, even in the most upscale areas. Police across the country have noted an uptick in illegal parties at foreclosed homes.
Police say that the fire is being called suspicious. This possible arson is not the only incidence of a recently foreclosed home catching on fire in the area. Police departments must respond to more calls– a critical challenge considering budgets have been severely cut due to the economic downturn. And all this because two mortgage giants chose simplicity for themselves over safety for the consumers they serve.
A state of the art hidden camera called the SecureShot “Yard Guard” Bird Feeder Hidden Camera DVR may be just the camera police and FBI (who now getting involved in owner stripped foreclosed properties) need to prosecute the persons stripping the house inside and out. This covert, weatherproof digital video recorders designed to protect outdoor assets and property. With our exclusive copyrighted micro PIR motion activation system, there is virtually no battery drain while on standby, and no false alarms. Simply hang on an tree or other object facing the house and wait for the stripping to commence.
As soon as “body heat” is detected, up to 30 feet away, hi resolution (640 X 480) video is recorded on a hidden SD card. Recording continues until 1 minute after motion ceases, then unit automatically returns to standby mode. Rechargeable high capacity Li-ion battery offers 1 year of standby operation and over 20 hours of actual recording per charge. Recordings can be played back to TV/VCR directly from unit, or SD card can be removed and played on your PC. Here is a sample video on how good the Bird Feeder Hidden Camera DVR quality is. Just the right outdoor hidden camera for law officials!
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