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Homeowner Frustration on the Rise Due to Foreclosure
By sharon | May 8, 2008
It’s logical that the rising trend in foreclosure houses nationwide would lead many homeowners to become extremely frustrated and distressed. Losing a home and dealing with an adjustable rate mortgage that seems to only work against you has to be an incredibly taxing and frustrating experience. And now officials are seeing a new trend among foreclosures that indicate just how angry people really are.
Victims of foreclosure have taken to destroying their homes directly before they are evicted, seemingly as a means of venting their frustration against the forces who put them out and will now seek to capitalize on any value in the home by selling it at auction. One agent in Maryland estimated that two in every ten homes she sells are vandalized to one degree or another, and that it is definitely a sign of frustration.
If homeowners are this frustrated by what seems like a lack of options, it spells good news for pre foreclosure investors. Buying pre foreclosures is often mutually beneficial to homeowner and investor, as it allows the homeowner to avoid a credit ruining foreclosure. Since homeowners feel frustrated by a lack of options, and selling on the open market is nearly impossible due to low property values, pre foreclosure investors might find they have a lot of options these days both in Maryland and the rest of the country. Some statistics show the sale of pre foreclosures is increasing, and it could be an excellent time to think about buying through the pre foreclosure method.
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Topics: Foreclosure |