Banks Pay People Off to Deter "Home Rage"

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<a href="http://online.wsj.com/article/SB120665586676569881.html?mod=fpa_mostpop">Buyers' Revenge: Trash the House After Foreclosure?</a>

Banks Pay People Off To Deter Home Rage;


Loose Pets, Paint Spills



<p class="times">"LAS VEGAS -- Eddy Buompensiero noticed eight pairs of shoes outside the door of the modest house on Mother of Pearl Street, evidence that the former owners were still living there even though the bank had foreclosed.</p>

<p class="times">Mr. Buompensiero, a gray-bearded inspector for REO Asset Services-1st Realty Group, rang the bell. When no one answered, he taped a letter to the door offering the occupants $1,000 to move out. The catch: They won't get a cent if they trash the house before they leave.</p>

<p class="times">"If it was me, I'd take the money," Mr. Buompensiero said as he drove away. Either way, they're "going to get thrown out in a couple of weeks."</p>

<p class="times">...The most practical way to ensure the houses are returned in decent shape, lenders and their agents say, is to pay homeowners hundreds or even thousands of dollars to put their anger in escrow and leave quietly. A ransom? A bribe? "Yeah, somewhat," says John Carver, an agent specializing in foreclosed homes for Prudential Americana Group in Las Vegas. But "you lose a house, and then you get some financial help -- it's a good thing...It's a win-win for both parties."</p>

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<p>Pssh I do this with people who won't leave the apartment. If I can't get them out and they are squatting, then a little $$ incentive goes a LONG way. Of course they can't get a cent until they leave. And even if they leave the house for a few hours, then their stuff is gone into storage and out of my apartment.</p>

<p>Nude, </p>

<p> Gutting a house can get expensive and do you realize as an owner you can also get a "quickie" judgement and RUIN people's credit. Think of it like taking a loan in destruction and never paying it back.... Then again, lots of people are going to have horrid credit nowadays.</p>

<p>-bix</p>
 
<p>Bix,</p>

<p>I was referring to paying me off to NOT gut a foreclosure... after the former occupants had left </p>
 
<em>"Eight pairs of shoes outside the door."</em>





And here I was counting on the Asian buyers to <em>save</em> the housing market, not push it further down into the deep dark recesses of foreclosure!
 
<p>Bix--if you did that in Fla, without going thru the foreclosure process, you'd be in deep, deep trouble.</p>

<p>On the other hand, the foreclosure process is not too bad in Florida and the judges are on the landlord's side, by and large. Under Fla law, you can't even defend on the basis that you landlord is horrible, unless you put your back rent in the registry of the Court. Which the landlord can ask to be paid of course.</p>

<p>It has gotten slower lately because of all the foreclosees; usually they slink away in shame, but now they're staying until the last minute. There are only so many sheriffs. The sheriff hangs around while the landlord takes the tenants' stuff out to the curb and changes the locks, to make sure no violence happens.</p>
 
<p>Liz, </p>

<p> I am REQUIRED to go through the eviction (not foreclosure) process. I woulden't even want to be a bank/REIT owner at this moment. Being a real deal home give the occupants even MORE power than renters. Which is quite alot at the moment. I do have one small house at the moment that I rent to students. But the house has been hardened to take the student abuse. Good luck</p>

<p>-bix</p>
 
<p>I meant eviction, not foreclosure. Sorry.</p>

<p>But foreclosees are starting to stay until the last minute, instead of quietly slinking away, as they used to.</p>
 
<img src="http://media.lasvegassun.com/media/img/photos/2008/06/11/scaled.0611_met_cleanup01_bw_t651.jpg?f88c8649bbadbb805ebb7b1c2020cc5b10765421" alt="" />



The house at 7927 W. Constantinople Ave. may be a foreclosure but it is not empty, because of all the trash, and it is not uninhabited, because of the smell.





<a href="http://www.lasvegassun.com/news/2008/jun/12/least-somebodys-cleaning-foreclosure-debacle/">http://www.lasvegassun.com/news/2008/jun/12/least-somebodys-cleaning-foreclosure-debacle/</a>
 
There is a video on Calculated Risk showing a guy ripping his house

to shreds because he's being foreclosed on.



Apparently, the police were called and said it wasn't illegal to destroy

your own house.



The noise is bothering the neighbors, but the police refuse to do anything.
 
Police are absolutely right, you can destroy your own property and there is nothing illegal about it. The "excessive noise" complaint is weak, again we would be powerless.
 
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