Disgruntled Homeowners Trash Foreclosure Homes

In a new spin on the fairy tale "The Three Little Pigs", a Clackamas, Oregon, man is said to have left three live pigs in his home when it was just days away from going into foreclosure. Neighbors say that the man was distraught and angry and hoped that the animals would trash the home. Perhaps the mortgage company was the "Big Bad Wolf?"

This is just one example of something that real estate agents say is becoming increasingly common as the lists of foreclosed homes grow and more Americans feel the flush of desperation. Bargain Network report that foreclosures in Oregon are up 23%, which makes Oregon in the top five states with the most foreclosures.

Shay, a real estate agent who specializes in listing foreclosures for banks, says that she sees this "on a normal basis and you would not believe the things people do. They should be liable for all of the damage they do to these places."

She says that punched holes in the walls are as common as missing fixtures and broken doors and windows.

"These acts of vandalism are fueled by anger and you have to wonder why people do it? What are they thinking? And what happens to them after they break windows, dump paint on carpets or stop up plumbing?"

Who has to deal with the aftermath?

Banks can submit a claim to the original homeowner's insurance company and try to recoup their losses and the insurance company can then choose to come after the original homeowner. Or the lender can just bypass that step and sue the original homeowner and then that angry, frustrated non-home owner can lose everything else they have worked for.

Who gets hurt the most by these acts of desperation are the people who wind up buying the home. Banks sell foreclosed homes "as is", so buyers inherit whatever problems are inside the home or on the property. Many people who consider buying foreclosed homes are first time home buyers themselves. They might be trying to get a little piece of the American dream of home ownership.

As the rate of foreclosures continue to rise, perhaps we'll see a new industry come of age. An industry that has anger management counselors and life coaches, perhaps they will even be hired by the banks at the beginning of foreclosures in an effort to prevent potential destruction?

James Thorner, In Home Foreclosure, if it's not Nailed Down....,
http://www.sptimes.com/2008/02/19/Business/In_home_foreclosure__.shtml St. Petersburg Times

Nick Bradshaw, Man USes Pigs to Trash own Home After Foreclosure,
http://www.kgw.com/news-local/stories/kgw_052607_news_pig_house.12e66bfa.html kgw.com

http://bargainnetwork.com/