Re: Interesting article on house stripping
Posted by steele in minnesota on June 29, 2008 at 13:42:12:
In Reply to: Re: Interesting article on house stripping
Posted by Mary Supinger on June 28, 2008 at 12:11:07:
Welcome to the world of stereotypes. Real Estate agents and attorneys have labored under the largely false assumptions of the public and media for years. Now lenders as the bad guys are all the rage.
But boy, when the consumer needs you...
That aside, the fact that this person was a mortgage officer was interesting mainly because he tried to plead innocence to the crime he had committed.
And yes, it is a crime to remove fixtures from a property in foreclosure. And it sound like he not only took everything that wasn't nailed down but most of what was nailed down in this property. Imagine what you would have to do to reduce the value of a property from well over a million to under $200,000. Even a declining market won't cover that :>)
What I found interesting was that a lender finally pressed charges. And a judge then threw the book at this guy.
Be aware. This may be the way things are going. Lenders are starting to act on the theft and destruction of collateral.
We'll see.
Steele
Follow Ups:
- Re: Interesting article on house stripping - Mary Supinger 14:05:11 06/29/08
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