Quote:
Originally Posted by GrimJack
It is not necessarily the dis-possessed homeowner who vandalizes the house. As soon as the grass is left to grow for a couple weeks, someone will go in and get the appliances, then the surface items go like countertops, sinks and so one, then the wrecking crews come in and get the copper pipes and wiring. Within a month or two of property neglect, the house will become worthless. I mean the wiring right out to the pole is stripped. The house becomes unsellable. If paying the ex-owner to keep the property maintained keeps the house sellable, then it is probably worth the money
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Theft by squatters and vandals is a different matter from destruction by foreclosed homeowners. The news feature that I saw is based on the premise that it was the borrowers themselves who trashed the properties.