|Pigs left to trash house|
Police believe homeowner left pigs in this home without food or water, hoping they would trash the place after he was forced out by foreclosure.
Remember all of those stories back in 2000 about people who invested their life savings in Pets.com? Or the stories about successful businessmen who gave it all up to be daytraders? Well the collapse of the real estate bubble has largely lacked those same kinds of implausible anecdotes…until now.
Realtors and lenders are increasingly reporting on a trend that’s a sure indication as to just how far we’ve come. It’s called “taking the inside of the house with you” and it’s what happens when disgruntled homeowners trash their foreclosed homes before abandoning them. Think of it as a reverse housewarming gift for their bank.
Unfortunately, buyers of those newly destroyed homes aren’t laughing—and that’s leaving entire neighborhoods in some cities abandoned; boarded up like crack houses.
Tonight on television we’ll bring you the unbelievable stories about what some homeowners have done to “get even” with their lenders, including one story about a man who locked three live pigs inside his home and let them have their way. The pictures will shock you—but it’s what Glenn thinks this growing trend says about the housing market as a whole that should really concern you.
The Real Story: Return to Lender – TUESDAY at 7 pm, only on Headline News.