February 05, 2008

HousingPANIC New Word of the Day: "Trash-Outs"


Too funny.

Too sad.

Too real.


Can't Pay Your Mortgage? Trash Your House and Leave

As housing markets tank, "trash-outs" are on the rise, leaving owners, lenders and banks fighting over who should pay the clean-up bill.

On the lookout for disturbing trends? Here's one for your pile: According to a recent article in Fortune, there has been a noticeable increase in not just fraud but arson that has kept pace with the housing depression.

Professionals in the insurance and lending industry are bracing themselves for all manner of similar situations, as homeowners either trash, or simply leave their trash lying around their houses, often taking off without even claiming their furniture. This is already a dirty problem in the housing business, with owners, lenders and banks having to figure out a way to stick each other with the check when tenants destroy their property on their way out the door. Woe is the person left behind to clean up the chaos.

60 comments:

WINGS said...

Shows you just how low the calibur of people are that take these shady ass loans and then trash the place on the way out.

You are dealing with the lowest common denominator of human scum.

This type has moved into more affluent areas of the country to try and live the good life cheap and then rape the house on the way out, after having raped the bank, also.

It's only going to get worse.

I blame Mozillo.

I want this man's head on a platter.

Punish this man now!

Frank@Scottsdale-Sucks.com said...

WTF?

I mean, man, it's bad and dishonest and sleazy enough to walk away from your loan, but to add insult to injury and trash it?

Like wings said, it goes to show just how low quality these people are who took on the shady option-arm, no doc, interest-only, etc loans.

Buzz Saw said...

I fully endorse people trashing the house before they get evicted.

Straw Buyer said...

On Wednesday, a team of constables descended on the home to evict the tenants, who weren't home. The house was trashed: Half-eaten hamburgers and moldy bowls filled with cereal and milk sat on a table. Christmas decorations, dirty clothes and toys were scattered through the living room. The carpets were stained, the place smelled like rotten food and dirty diapers.

The tenants rolled up as the owners changed the locks, and the constables carried out the eviction paperwork. The tenant, Bobby Green, jumped out of a car, screamed, cursed and started to get physical with one constable. Within seconds, Green was Tasered, down on the driveway and in handcuffs...


Breeheehee!! That's exactly what I did. Don't taze me bro!

reverse gentrification said...

Get back to me when people are taking sledge hammers to their Sub-Zeros and slab granite counters.

They probably never cooked a meal using them but at least they can take out their frustration on them.

straw buyer said...

Oops! Broken link.

Anonymous said...

do that and you will likely go to jail-as you should! nobody held a gun to these peoples heads at closing, all they thought about was how much am i gonna make in the next 6mo on this house i cant afford and am fraudulently obtaining- fuck them! thats a felony and they need to go to jail.

cletus

Lester said...

I'll pay that cleanup bill!

Allow me to take over the house and give the bank $400 a month - and 400 is better than nothing when you're a bank with no cashflow. Trust me, you banks will be begging me in 2 years.

Didn't learn your lesson in 97 did ya?

Frank@Scottsdale-Sucks.com said...

"Get back to me when people are taking sledge hammers to their Sub-Zeros"

I'm close but for different reasons - this house has a Sub-Zero and it's a piece of junk. What a ripoff ... but then again the last few years have been all about ripping off gullible homedebtors.

Anonymous said...

I used to trash out and demolish fire damaged homes for a restoration company. The 3 month abandoned fridges/freezers were the worst. We would make damm sure never to open 'em, wrap 'em in shrinkwrap and then drop 'em off at the city landfill. I don't think they were too happy about it!

Anonymous said...

"You are dealing with the lowest common denominator of human scum."

YES -- low-grade, white trash of the likes of DOPES and Blowfish!

Anonymous said...

remember the guy who left the 3 big hogs (pigs) in the house and no one knew until finally someone checked the house LOL, or the one where the people poured cement in the toilets, or the guy who lost his multi million dollar house and some one bought it at a foreclosure sale, promised he wouldn't trash it but left the water running and caused more damage than the new owner paid for the house. When people get this desperate all I can say is watch out, and load up the glock.

edd said...

"Keys for Cash"

Anonymous said...

LOL how they called the "homeowners" tenants

Anonymous said...

Its basically the old idiom of the dog "leaving a sh!t and jumping out the window" but w/ a twist. The twist being that the dog leaving the sh!t is motivated to do this based on some sort of misplaced revenge motive. In reality they are just hurting themselves because if they go to/thru the foreclosure process the costs of clean-up and any reduction in value this sh!t creates in the sale of the property will be tacked on in the judgment against them!! Of course the bank collecting is a whole different matter. The borrowers likely never could afford the home in the first place so they got it via fraud and now that the place they never could afford is being taken from them makes this whole revenge thing silly and stupid. If they want to get revenge they need to deal with the person that got them into this mess, so basically they need to look in the mirror that they just smashed!

Welcome to the New Depression said...

I think it is Great.

The cause of the problem are feeling the effects of their greed.

At least it gives the fat fireman something to do when they are not eating, sleeping or washing their trucks until retirement.

Burn Baby Burn!

Welcome to the New Depresssion

tangelo mozilo said...

Hey! Where'd they get a picture of my kitchen?

nomo said...

"trashouts" are nothing new.

Ask any landlord.
Happened to me way back.
Had the people evicted. Got into the house next day. WOW! 10 truck loads to the dump. Got real smart after that; pulled credit reports on any potential prospects. Never a problem again.

X-er said...

Don't forget cleaning the place out of everything.

There's a lot of stuff in a house to sell. All the appliances, the fixtures.

Hell, even that copper wire is worth real money. Rip that out of the wall, strip it and sell it.

Doors, knobs all the misc. hardware. You can sell all of it.

When the housing market crashed in New England in the late 80's people broke into vacant houses and took all that stuff and sold it.

Expect to see that again too.

Mammoth said...

Best quote on this thread:
“If they want to get revenge they need to deal with the person that got them into this mess, so basically they need to look in the mirror that they just smashed!”
-------------------------------
Yeah, I used to have a strong resentment towards people who are wealthier than me. I always assumed that they had amassed their wealth by screwing it out of others.

And then one day the light came on – I was driving through a poor rural area and saw, right in the middle of the road, a garbage bag which someone had just thrown out of their pickup truck. It looked awful lying there amidst the otherwise pretty, natural scenery, and made the place seem ugly.
Whoever dumped that garbage bag was probably angry, and trying to ‘get revenge’ on some unidentifiable THEM, but in doing so, just made it worse for everybody.

Seeing and reading about “Trash-Outs” brings this all back now. Who does this hurt? All of us. The banks are just going to pass the cost on, and as we all know, sh!t rolls downhill and we are the ones at the bottom, with it heading our way. What lesson does this teach the people who do this crap and seemingly get away with it? And what do these people’s kids learn from this?

So before you go ahead and applaud the @$$holes who destroy houses, give some thought to what this says about America, and think about what it tells us about its future.

-Mammoth

Anonymous said...

Lester,

I can fix that mess no problem. Things are slow, will work for cheap! Cash discounts also available.

Big Cheese said...

Heh. Reminds me of Casey Serin and the Green Pool. Remember that episode?

BC.

Anonymous said...

And now the exodus back to the trailer park begins!

Anonymous said...

In reality they are just hurting themselves because if they go to/thru the foreclosure process the costs of clean-up and any reduction in value this sh!t creates in the sale of the property will be tacked on in the judgment against them!!

Mr. Lopez just becomes Mr. Smith !!

Red said...

I don't agree with this behaivor, but I bet there will be plenty of it.

I see it as an opporunity...I have the wherewithall to clean up a house like that and make it a castle.

Soon!

Anonymous said...

"Punish this man now!"

har har har NOT gonna happen..

Im sure he's saying:

Thanks SUCKERS !!!!

Anonymous said...

I have EVERYONE walks, and sticks it to the banks for being so STUPID.

Andrew Hac said...

The Americano fate has entered a dark age. An age of unimaginable stench emanating from the fart of the Housing Bubble.
Who do you have to blame but yourself when you bough a $700K house on a $40K annual salary as a low-life, S.O.B telemarketer ? Add in a fat-ass, lazy, couch potatoes, hoity-toity wify, a couple of red neck kids with rotten teeth and you now have a perfect storm for the crashing of not only the Americano economy but the Americano family value as well.

Thus, with all due respect, I will ask you a few live and death questions:

IS THE AMERICANO roasted yet like a grilled snapper turtle ?

WILL THE AMERICANO ever find a shred of WMD in Iraq, the little nation that the Americano president DUBYA SHRUB had invaded a few years ago ?

WHAT IS INSIDE the tummy of most Americano ? Greed and Sh*ts mostly, perhaps ?

WHEN WILL THE AMERICANO "Gone With The Wind" ?

CalisDead said...

Alright, who the hell sneaked into my kitchen and took pics?

Anonymous said...

That looks like my kitchen during college days. Come to think of it, my kitchen's not much better these days.

FredE said...

Do banks (and their rich investors) ever consider that it would be better for them in the long run (YOU KNOW, LONGER THAN SIX MONTHS) to do things like, I don't know, REDUCE RATES or, say, OFFER FOREBEARANCES? Rather, than, say, END UP WITH DEAD INVENTORY YOU HAVE TO MOVE YOURSELF AT A LOSS?

There must be some perfectly rational explanation that bankers have for choosing to foreclose rather than rehabilitate. I'm sure I'm missing some critical piece that says it's better to ruin credit (reducing your potential market) and accumulate piles of unsellable, overpriced $500K assets.

Anonymous said...

hey that's one of my torch jobs. what do you guys think? can i go to work for tony soprano now?

Anonymous said...

the trail of tears for this financial mess goes straight to wall street. they should be the ones to pay this all back , every last penny......

Anonymous said...

Can we finally get rid of this ridiculous, "owners are more responsible people than renters" nonsense?

Anonymous said...

People who do that should be shot. Put into work camps or something.

Sometimes I think we need some kind of fascist dictatorship to get rid of the scum in this country. Massive executions of murderers, rapists, child molestors, scam artists, etc.

They should put most prisoners into prison camps - POW like camps. It's a lot cheaper than the cement and steel cages they use now called prisons.

Anonymous said...

Just another day at my house!

Andrew Hac said...

The Americano Housing Bubble has revealed the true anatomy of the Americano people. And what that anatomy amounts to is a heap of putrid, rotten to the core, maggot filled, rat chewing pile of garbage.

Greed, Ignorance, Irresponsibility, Laziness, Materialistic-Craze, Hoity-Toity attitudes are all part of the Americano rotted anatomy, stinky gut.

How can a fat-ass, obese, rotten teeth, putrid breath, dumb-ass Americano male driving by himself a Ford Expedition on the road, consuming 15-18 miles per gallon of gasoline is just beyond the realm of reasoning.

How a whole family of cracker-nuthead, GrandPa and GrandMa, Joe6Pack and JaneZinfandel, 6 of the spoiled-brat kids swarming the Walmart aisle after aisle piling junks on the shopping cart is pure hilarious and pitiful at the same time.

How the whole Hicks and HillBilly family chomping down on oily, greasy McDonal french fries and Wendy’s hamburger is just so resembled the scene of the bunch of hogs roosting and wallowing at the feed trough.

The Americano nation is pathetic and doomed beyond the point of redemption !

Anonymous said...

The problem is in part that these geniuses actually believe that they 'own' these shacks. In reality they are just renting from the bank. Then when they miss a few 'rent' payments and get kicked out they feel wronged. News flash: there is NO way to own a home in this society, try paying 100% cash up front, in about a year you'll get a bill from the county for proprty tax, if you don't pay this bit of 'rent' you STILL wind up on the street.

Anonymous said...

"People who do that should be shot. Put into work camps or something."

While I do not agree with what these people may have done, it must also be appreciated that they probably were not the only bad actors in this case. What of the lying, deceptive and fraudulent sellers, Realtors(R), appraisers, mortgage brokers, Banks, and Wall Street?

"Then the LORD said to Cain, 'Where is your brother Abel?' 'I don't know,' he replied. 'Am I my brother's keeper?'"

JaneZinfandel said...

Andrew Hac said...

The Americano Housing Bubble has revealed the true anatomy of the Americano people.

How the whole Hicks and HillBilly family chomping down on oily, greasy McDonal french fries and Wendy’s hamburger is just so resembled the scene of the bunch of hogs roosting and wallowing at the feed trough.

Hogs wallow Andrew, birds roost. You are in foreclosure aren't you?

I am so sorry.

Anonymous said...

Andrew Hac, who are you? Are you Nguyen from TX? :)
Is it you?
Andrew
Hac Nguyen

Anonymous said...

Calibur? Rape? Scum? Wings, you sownd iritated.

Anonymous said...

"Get back to me when people are taking sledge hammers to their Sub-Zeros"

I'm close but for different reasons - this house has a Sub-Zero and it's a piece of junk. What a ripoff ... but then again the last few years have been all about ripping off gullible homedebtors.

*** Read Consumer Reports. You'll learn that the frequency-of-repair for these fancy fridges and stoves is MUCH higher than your perfectly acceptable mainstream stuff. Just remember that, next time you pull out the credit card.

JaneZinfandel said...

Damn I just love a man with a big cigar.

Anonymous said...

Perhaps if people had a stake in their home this wouldn't happen. For instance, let's say they were required to put down 20% of the price of the home.

Hmmmmmmmmm

Maybe the banks are getting their just deserts.

Anonymous said...

"People who do that should be shot. Put into work camps or something.

Sometimes I think we need some kind of fascist dictatorship to get rid of the scum in this country. Massive executions of murderers, rapists, child molestors, scam artists, etc.

They should put most prisoners into prison camps - POW like camps. It's a lot cheaper than the cement and steel cages they use now called prisons."


I bet I know who you voted for in 2000 and 2004! Now my question is, who are you gonna vote for in '08? Just stay home, OK?

Anonymous said...

These are the kind of people the Hitlary wants to bail out with my tax dollars? Send them back to the ghettos and trailer parks.

I have a dream... said...

"People who do that should be shot. Put into work camps or something."

Here, here, hear!

Work Camps First, then tortured and then shot.

In that order...

Anonymous said...

---JUST DON'T LEAVE your DOGS/PETS behind!!

Walk Away, Mail in the keys, but this is my PLEA--Please at the very LEAST, DO NOT be so heartless as to leave your PETS behind!! There have been too many stories of this already, and I just can't believe people could be so CRUEL!!

The ASPCA or Humane Society shelters are in every city--At least they will have a chance at a new life--DROP them off if you have to, or Google your breed's Rescue group in your city!!

THANK YOU for listening!!--and remember-

"The measure of a man's character can be seen in how he treats animals and small children......"

Anonymous said...

"So before you go ahead and applaud the @$$holes who destroy houses, give some thought to what this says about America, and think about what it tells us about its future"

It tells me that America is fucked.
And will get a lot worse, before it gets better.

Have a nice day.

Anonymous said...

Anonymous Anonymous said...

People who do that should be shot. Put into work camps or something.

Sometimes I think we need some kind of fascist dictatorship to get rid of the scum in this country. Massive executions of murderers, rapists, child molestors, scam artists, etc.

They should put most prisoners into prison camps - POW like camps. It's a lot cheaper than the cement and steel cages they use now called prisons.

February 05, 2008 5:07 PM<<

be very careful what you wish for...

klink said...

Hey anonymous, I'll put YOU into a camp and torture your ass.

Anonymous said...

"At least it gives the fat fireman something to do when they are not eating, sleeping or washing their trucks until retirement"


W.T.C. 9/11/2001

I'd like to punch you in your mouth.

Anonymous said...

I can't imagine anyone who would leave their dogs behind in a foreclosure--Words cannot describe what I would do to someone like that! You always have choices!!

I would beg for food on the street and feed my dogs first if it came to that...they give the ultimate in unconditional love, and I feel I just owe it to them to be worthy of that kind of devotion...

PLEASE take care of your pets folks!! KARMA is a beeeatch!

happy homeowner in the stix said...

They're not gonna be thrown in any prisons, work camps, Andrew Hac's homeland, etc. Sorry, guys....but for most of them, when they did this, they were still technically "owners".

There is no law stating that you have to have a clean kitchen (my sister in law would be facing a life sentence without parole if there was). There is also no law stating that you can't strip your own house bare of copper wiring, fixtures, appliances, etc., and sell 'em on eBay before the bank forecloses on you, either. You can yak all you want about how unethical you think it is, fact of the matter is if you want to trash property you own, even if you are losing it tomorrow, it's not illegal to do so.

It's at most a civil matter, but even then, you'd have better luck getting blood out of a turnip. They don't have any assets to seize.

Why the hell do you think that auction properties and bank foreclosures are often sold "as is", without letting you inspect the place first? Because they know that the last "owners" probably weren't doing basic maintenance, much less major repairs needed to keep the place up. And there would probably be some normally expected furnishings missing (bathtubs, plumbing, wiring, doors, you name it.)

It's like a repo car, guys. Same thing....I can't make the payments, so hell if I'm gonna do anything about that rattle in back and the busted taillight if I'm trying to ditch the tow truck in the middle of the night.

The only ones I really feel for are the animals left behind sometimes. They are the only innocent victims in this whole mess.

TM said...

You just got between six and twelve months of free rent, have just been liberated by the bank from the responsibility of what is most likely a shabbily-built stucco shitbox, and all it cost you was a temporary reduction in your credit rating...

and this is how you show your appreciation, by trashing the place? Ingrates.

Anonymous said...

This is the type of people who buy a $300,000 house on a couple of $7.00 an hour job. Somehow, it is becomming clear that the math won't work out on that idea. This is sort of par for those who would think the banks and US government would go along or maybe "just give em the house" if they cant pay for it. Now that they have been evicted, if they cant have it--no one can.

Anonymous said...

Most of the houses built in the bubble are rubbish anyway. When the market has fully tanked I won't be buying anything built during the bubble. Well I'll buy the land but they'll have to remove the plyboard house.


Trashout - that's funny shit. Scorched earth. I like it.

Anonymous said...

Alright, who the hell sneaked into my kitchen and took pics?
--------------------------------

LOL, It kinda' looks like my kitchen too. Thankfully, they got the picture taken AFTER I cleaned it up.

Anonymous said...

The banks ought to figure out some way to "blacklist" these people. It's one thing to go bankrupt or to go through a foreclosure, but the VANDALISM is something else.

When these people want to buy another house a few years from now, the banks should "just say no."