More and more reports are coming out of homeowners who are stripping their homes before they are foreclosed on. Some are taking a few light fixtures and the water softener. Others are taking everything down to the kitchen sink.
I am warning homeowners out there that the consequences of doing this can land you in jail and maybe prison. It is simply not worth the risk of yourfreedom. If it is not yours, then advise you not to take it when you leave. It is theft if you do and over $500 is grand theft and a felony in many states.
DAMASCUS – After stripping his foreclosed home of everything from the air conditioning system to the kitchen sink, Grigoriy Bogoslavets was convicted of a crime that is often witnessed but rarely reported.
The 33-year-old electrician pleaded no contest last month to aggravated theft after stealing more than $50,000 of property attached to his former Damascus home, one of the few such cases in Oregon or across the country to result in prosecution. He will be sentenced Sept. 22.
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I just wanna say if you buy a home without lights, appliances, and other improvements to the home that you paid for, that property belongs to you. So take it with you if you can. I paid for and installed a new roof unfortunately I cannot take the shingles and tar paper because the house had one when I bought it, but the house was a shell inside no lights, appliances, and so on. That is what the bank will get back the same shell I bought. It will be in the same condition inside better on the outside when they get it back If they do. I’m not done fighting for my investment in my home I worked years to get. I hope we can come to an agreement but seems like they are gonna win. So if you paid for it, then it is yours is all I’m saying. unless it is a replacement of what the house came with. In other words if you bought a new refrigerator because you didn’t like the one in the house when you bought it, Leave it behind, but if there was no refrigerator when you bought the house TAKE IT, IT IS YOURS .
As a Turnaround Professional and a former workout officer I am able to say that in a realistic scenario a bank would much rather restructure rather than foreclose at a loss if they could. The problem is really the regulators, for they will make the bank write down the asset to market value and no longer permit it to be an earning asset. If you sell the loan or mortgage or property at market then the proceeds can be put to work as earning assets. Doesn’t anyone get it!