Haven’t you heard? Lately, a new Jack the Ripper has emerged but this time he may be marauding your neighborhood.
As the result of angry and frustrated homeowners who are losing their homes to foreclosures, it is reported that “roughly half of all foreclosures are returned to the bank with substantial damage” delved the Sun-Sentinel newspaper, today. Some people strip their entire property clean like maggots to a dead body just before they vacate it. My first exposure to this occurrence was about three month ago when I showed customers a foreclosure house to find entire devastation – someone had ripped just about everything that could come off down to the front door lock.
This latest vandalism phenomenon is spreading rapidly across the nation according to a Washington, DC research firm, Campbell Communications and Research. Because it is perceived by homeowners that their ruin is always caused by the bank’s fault, people feel the need for vengeance.
It has also been reported that other people are more honest; they won’t steal that which now belongs to the bank (maybe due to their religious beliefs because nowhere in the 10 Commandments is said: “Thou shall not vandalizest other people’s possessions.”) So, they sabotage, instead. I have already heard incredible stories of people pouring concrete cement in sink drains and toilets, throw dead fish in AC ducts, smash rotten eggs in the attic, hammer holes in drywalls and etc.
Sometimes, the Ripper is not the homeowner. Because of signs of distress clearly visible (Realtors® “Short Sale or Foreclosure), newspaper ads, etc. perpetrators are silently lurking around until the opportune moment to rip off.
Lenders have subsequently developed a counter strategy to this prevalence by offering cash incentives to homeowners up to $2000 if, upon closing inspection, the homeowners have not stolen or defaced their properties, either themselves or by a third party involvement.
Realtors®, the morale of this story is: if you are listing a Foreclosure property, keep a keen eye on your front yard sign and post because the new Jack the Ripper may even rip that off, too.