Some Homeowners In Foreclosure Resort To Stripping Homes, Unloading Goods Online

In Phoenix, Arizona, KPHO-TV Channel 5 reports:

• Before a bank takes possession of a foreclosed home, many owners are leaving with every penny they can get by selling their furnishings and appliances online. Realtors in Phoenix reported the new trend is showing up more and more in a city with one of the highest foreclosure rates in the nation. "It's quite often I see a lot of the appliances taken out," said Christian Broadwell, a local Realtor.

• Broadwell said he is trying to sell more than 300 homes in the Valley in foreclosure, and many are stripped of cabinets, countertops, appliances, toilets and even a fireplace. "The dishwasher, stove are taken out," he said. "Window blinds. Any upgrades the owner has done." Many of the items end up on Web sites like Craigslist, Broadwell said.

***

• The homes that are stripped are usually sold "as is." Even if the buyers are ready to do the repairs, they may have a hard time getting a loan because many banks won't loan money to pay for a stripped home, Realtors said.

For more, see Realtors: New Twist In Foreclosures.

Go here for other posts on pre-foreclosure homeowner fixture stripping. foreclosure fixture stripping apple