[bepperoo]

In Germany this is the norm. They take everything with them when they move but I have never seen this in the US. I like you would be shocked! Olecapt is right though you can make the kitchen and bath to your liking.....will definately get your money back when you sell by renovating these rooms.

[desertsun41]

The game has been around for a while. It is called "cash for keys". Buyers with half a brain could walk away from a home with cash in their pocket and be free from the law rather then damage and steal to sell everything and anything in the home before they abandan it.

Here are 2 examples. The first one is in Las Vegas.

Dow Jones Single Title Player (No Content)

'Cash For Keys' A Rising Trend - Truveo Video Search

Hot Property Want to know what a foreclosed house looks like? - BusinessWeek

There are 2 things going here.

1. People are fighting mad that the lender refuses to modfiy the mortgage to help them out instead would rather take the home back at great cost to the lender. This makes no sense to people. Then the borrowers take revenge out on the house to spite the lender.

2. In most cases the borrowoer does not destroy the house but rather just sells all the appliances and anything removable.

A borrower can contact their bank and tell them they want cash for keys. The bank will almost always make an offer. The borrower can ask for more. Typically the lender will offer $2000 but a savoy borrower can get as much as $3000 to walk away from a clean home. That gives the borrorers a pretty good deposit on the rental they will be looking for.

[Bennysmom]

Originally Posted by PinkString

I guess taking the entire kitchen was better than what some people are doing: destroying the entire home inside and leaving their pets to die in there too. Anyone who is cruel enough to leave their pets behind when they are foreclosed on should be hung upside down and flogged in the town square. After that, they should be locked inside a closet in a foreclosed home and given the same consideration as they left their pets.

I like your way of thinking Pink.

[VLWH]

Interesting question. If they take the appliances and fixtures out, is this consider stealing? If the bank still owns title to the house, does this include the appliances and fixtures.

Originally Posted by desertsun41

The game has been around for a while. It is called "cash for keys". Buyers with half a brain could walk away from a home with cash in their pocket and be free from the law rather then damage and steal to sell everything and anything in the home before they abandan it.

Here are 2 examples. The first one is in Las Vegas.

Dow Jones Single Title Player (No Content)

'Cash For Keys' A Rising Trend - Truveo Video Search

Hot Property Want to know what a foreclosed house looks like? - BusinessWeek

There are 2 things going here.

1. People are fighting mad that the lender refuses to modfiy the mortgage to help them out instead would rather take the home back at great cost to the lender. This makes no sense to people. Then the borrowers take revenge out on the house to spite the lender.

2. In most cases the borrowoer does not destroy the house but rather just sells all the appliances and anything removable.

A borrower can contact their bank and tell them they want cash for keys. The bank will almost always make an offer. The borrower can ask for more. Typically the lender will offer $2000 but a savoy borrower can get as much as $3000 to walk away from a clean home. That gives the borrorers a pretty good deposit on the rental they will be looking for.

[olecapt]

Originally Posted by VLWH

Interesting question. If they take the appliances and fixtures out, is this consider stealing? If the bank still owns title to the house, does this include the appliances and fixtures.

It is likely a civil action rather than a criminal one. You have a right to modify your real estate. So removing parts is within your rights. Civilly though you probably do not have a right to do anything that damages the banks value.

Once the bank owns the property however the rules change. Now it is theft.

I know of one case where we thought the place had been trashed on entry...but after looking at it a bit we decided that a major renovation had been stopped at the end of the tear down phase.

Floors were ripped up, walls were opened and commodes and sinks had been moved though all were still in the house. When you looked at it it made sense...they were doing it over.

I think banks believe it not worth the trouble to pursue after the fact. Worth a small bribe to keep from occurring.