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Former real estate moguls taking everything but the kitchen sink?
From KGET.com. “There’s a new problem with real estate foreclosures as some residents have resorted to stripping everything from appliances to door-knobs from foreclosed homes before the houses go back to the bank.” “17 News has uncovered two cases where the homes that have belonged to former members of the Crisp and Cole Real Estate team. The first home was owned by Jeriel Salinas, a current agent with Crisp Realty.” “‘When we came in, we noticed that the appliances were missing,’ said real estate agent Susan Ferguson, who said, after walking into a Seven Oaks home, ‘Oops, there’s no stove. Oh wait a minute, there’s no dishwasher. No hang on a minute, there’s a microwave missing.’” “Salinas stopped making payments on the home, so the lender took it back. Workers at another home said what occured at the Seven Oaks home is a drop in the bucket, saying door handles have been taken before.” “‘My boss just spent $1,300 replacing the door handles,’ said construction worker Robert Velez.” “Velez walked 17 News through a million-dollar home formerly owned by Crisp and Cole Real Estate broker Jayson Costa. Velez said business is good.” “‘We’ve done a lot of foreclosures, and yeah, a lot lot of houses,’ he said.” 15 comments from 6 users
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posted by
Bakersfieldbubble
on Oct 26, 2007 at 02:39 PM
Somebody wake up Ed Jagels from his nap. Nevermind, this is not a crime in his book.
posted by
OldBlue56
on Oct 26, 2007 at 03:17 PM
Bakersfieldbobble, what is the crime?
posted by
ChicoEsquela
on Oct 26, 2007 at 03:33 PM
The "residents" (some of which are even "straw buyers") don't really own the appurtenances he speaks of
posted by
OldBlue56
on Oct 26, 2007 at 03:56 PM
Chico, I know you know this, but no one really "owns" their house until the last payment is made. Until the house belongs to the bank, taking the doorknobs, appliances, ect, would be a civil matter, not a crime. Doing so after the bank has it in their possession would be a theft.
posted by
refiguy
on Oct 26, 2007 at 04:44 PM
plus if it is repo at least it may be tresspassing.......
posted by
ChicoEsquela
on Oct 26, 2007 at 04:49 PM
but what about pc 602?
posted by
ChicoEsquela
on Oct 26, 2007 at 04:54 PM
and if it were forcible wouldn't it be a 603? either way, even though misdemeanor, would be criminal right? 602 as I recall (I'm old and its been a long long time) has provisions even for taking lumber laying around on the grounds. posted by
Bakersfieldbubble
on Oct 26, 2007 at 04:59 PM
I am not any attorney, but I could think of several things that should at least be looked at (two were mentioned by you guys). At the very least shouldn't the DRE look into this for some ethics violations? At this point it really doesn't matter I am sure the missing appliances were sold on ebay or some swap meet for pennies on the dollar to pay for their excessive lifestyles - so any evidence is long gone. I guess the neighbors will just get screwed as the comps on these REO's (foreclosures) start to mount in these neighborhoods and the blighted areas just drop in value with each passing month.
posted by
Bakersfieldbubble
on Oct 26, 2007 at 05:09 PM
Homeowners in the Central Valley and the Inland Empire, east of Los Angeles, have been hit hardest by foreclosure actions We know now, in emerging detail, that a lot of these loans shouldn't have been made. The issue is whether the real estate market and the economy will digest these over the next year or two, or if housing market distress will bring the economy to its knees. Right now, most California neighborhoods do not have much of a foreclosure problem. But where there is a problem, it's getting nasty," says Marshall Prentice, DataQuick's president. Half the state's default activity is concentrated in 293 zip codes, almost all of which are in the Central Valley and the Inland Empire.
posted by
OldBlue56
on Oct 26, 2007 at 05:26 PM
I was going by what the first sentence said. First, it says "residents". That means they still live there and haven't been forced out yet. Second, it says the house hasn't gone back to the bank yet. Therefore there can be no trespassing, PC 602, or burglary, since they live there, and no theft, since the property still technically belongs to them. Therefore there is no crime for taking things or even causing damage. Besides, Jagels and the DA's office has nothing to do with this. IF a crime were committed, the police dept. or sheriffs dept. would be responible for investigating it and seeking a criminal complaint through the DA's office for prosecution. And I will add I don't know squat about foreclosure laws.
posted by
Bakersfieldbubble
on Oct 26, 2007 at 05:37 PM
Per 17 news right now on TV. The BPD was out there today at 10:00 am!
posted by
refiguy
on Oct 26, 2007 at 05:43 PM
ok I just watch the news...they will definately be on that show ....caught on tape....the pictures taken by the neighbor are priceless........or at least the show stupid crimnals.......
posted by
ChicoEsquela
on Oct 26, 2007 at 06:22 PM
As per usual OB, you are technically correct. Per the letter of the article "they" are residents and they wouldn't be charged with trespass until the NOD goes thru, it becomes an REO, quit notices are served, etc. and they are actually served by civil (SO)? While this seems riduculous to a lot of us (esp when "Bush Bailouts" thru Fed Reserve rate cuts and FOMC increases in M1 and M2 mean our tax dollars are funding a lot of this folly), technically OB is correct. Now IRL, I think a lot of these fixtures, etc. are being taken by "non-residents" when the "residents" are vacated. Of course, as illustrated by Mr. Velez, one door closing means another is opening. ..REO's will foster a whole other area of potential fraud just watch........ and there will, of course, be plenty of work for Mr. Velez and his crews............ posted by
janay11
on Oct 26, 2007 at 09:13 PM
I wouldn't want to defend the former C&C but the problem of people stripping bank owned properties is happening all over, from what I have seen. They are even taking the faucets, light bulbs, toilet paper holders, heck in one of our houses they pulled the dishwasher out and left the water spuing out all over the kitchen. I think that there is a ring of thieves, with an inside person that is making a lot of money on household appliances. Or maybe I watch too many mystery who dun its. (^_^) posted by
NancyII
on Oct 27, 2007 at 07:39 AM
The news is acting like this is something new. People have been stripping houses because of foreclosure for as long as I can remember. HUD homes used to be famous of that. You'd go to look at one to see how much repair it would need and it would be a shell. It's been 10 years since I had a RE license and it was common even then. It's only hitting the news big time now because of the housing disaster.
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