Why Banks Need To Work Hard Communicating With Potential Foreclosures to Avoid Serious Damage To Homes

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You have to imagine that when someone is being foreclosed upon there is going to be a great deal of anger in the arrangement. They are being forced out of their home because they messed up. The homeowner did not fulfill their obligations so they are mad at the bank, mad at the world, and worst of all mad at themselves.

And the banks by being all bureaucratic are not helping themselves. Instead of proactively trying to avoid an expensive and lengthy foreclosure process and resale of the home, they fall back in a series of formal legal type documents that scare the crap out of the homeowner.

Let’s face it, very few people really forget to pay the mortgage for 3 months straight. They may decide not to to pay other obligations or they may be running a bust out, but they have not forgotten. So when they are confronted they are going to be a bit hostile and act like a 4 year old might.

However if the banks addressed them in human terms with trained professionals as opposed to 7 dollar an hour telemarketers they may be able to save the expense of taking over a destroyed home. One guy even put pigs in the house when he was foreclosed upon.

Because if someone is being foreclosed upon they are not worried about making sure that the home is in good condition. People are now realizing that they can take nearly anything that is not tied down without repercussion. But imagine the difference if the process was at least humanized a little bit.

“Typically on a national average, they’re loosing about $50,000 per home. Back in the 80’s when I started doing this they were loosing an average of $25,000,” Walker explained.

Look around and you’ll see light fixtures gone, and wires hanging out of walls and floors. This house is just one example, and it gets even worse. “Sometimes they will strip a house down to the bare studs. I mean sheet rock, bathtubs, all the kitchen cabinets, everything totally stripped out of the house,” Walker said.

Just outside, we find an empty concrete pad, where the airconditioner once sat. The wires and plumbing still dangle from the walls.

Back inside, the attic ladder was ripped out leaving a gaping hole in the ceiling - the electric wiring in the attic is gone too.

As are the kitchen appliances and counters.

You’ve heard the old expression, take everything and the kitchen sink? Well in this case that applies because the kitchen sink is gone too, and realtors say sometimes they find other surprises in the kitchen. News 9 Chattanooga