Retaliation against the Lender for the foreclosure
January 24th, 2009 categories: Buyer's Advice, Seller's Advice
I can understand the anger that comes over people after losing a home to foreclosure but to destroy or damage their bank-owned home before moving out will be a million times worse for them. Not many people are aware that they make the Economic problem worse. Removing fixtures, faucets, sinks, piping, showers, toilets etc.. purposely damaging the property before they leave will not only affect THEM but everyone else pays the price for THEIR ignorance. It actually hurts the falling market even further. The surrounding property value will lower more when your damaged property
sells and is used for other comparables. The sale of their property will be used for other sales. Hence affecting everyone.
I hope some read this before they do such acts because you will be looking at criminal prosecution and a Civil Judgement. I am sure they are not aware that this will follow them for the rest of their life?
Anyone that retaliates against a Lender (Mortgage Company) that foreclosues on their property will be looking at criminal prosecution. Here in California it is prohibited that removing fixtures, faucets, sinks, piping, showers, toilets etc.. “with the intent to defraud or injure” after the property has been foreclosed.
Removing fixtures more than $100 is a FELONY which equals prison for a year or even more. If they are less than $100 it is a MISDEMEANER with county jail imprisonment for up to one year and or a fine of up to $1,000.00
The mortgage company may bring a separate lawsuit to recover for the difference in the value of the property caused by the Vandalizism. If a mortgage company obtains a judgment for the damages, that judgment is valid for ten years, and may be renewed for additional ten year periods.
So please save yourself even more dismay and hurting everyone around you – PLEASE PLEASE think twice, you will regret it.
