A friend of mine is about to get foreclosed on. He is gutting the house and selling everything.

[Anonymous]

He says that he has to just to have money to survive. Literally, he is removing the wiring and copper tubing from the walls. He's selling the hot water tank, HVAC unit and the ductwork. He's removed all of the drywall and it's down to the bare studs. I tried to warn him that he is going to be responsible for the difference in the loan and what the bank can actually sell the house for. He said that he has to survive and that's all he has left.

I don't agree with what he's doing, but when your back is up against the wall people do the wildest things! How much trouble can he really get into? I hope he doesn't go to jail!

[Anonymous]

It's his house until it is not his house. When it is his house he can do whatever he wants within local codes (i.e. can't burn the house down as a party bonfire).

He will owe the difference but it sounds like at the end of the day he's going to file bankruptcy so it doesn't matter. Just make sure to be within the debt limits of bankruptcy - if you owe too much you cannot get bankruptcy protection.

[Anonymous]

All he is doing is wasting his time. How much $$$ will one get from the copper in his house? He will default on the loan, go thru foreclosure, the bank will own that which he is destroying, the bank will lose $$, and, his credit history will be kaput.
It sucks, but, he should've done some creative thinking long ago. Tearing out some fixtures does not fall under that category.

[Anonymous]

Seriously? Could he not have rented rooms in his house?

[Anonymous]

Sounds like an addict.

[Anonymous]

I knew someone going through a divorce that stripped a home when he was losing it. Even took out the carpet. The bank sued him.

[Anonymous]

Gambling addict?

[Anonymous]

Anonymous wrote:Seriously? Could he not have rented rooms in his house?

+1. I've had roommates and it's been awesome. why don't others do this???

[Anonymous]

What he's doing is not uncommon -- foreclosures are frequently stripped bare.

[Anonymous]

Anonymous wrote:What he's doing is not uncommon -- foreclosures are frequently stripped bare.

Data? Source? Are u op?

[Anonymous]

Anonymous wrote:He says that he has to just to have money to survive. Literally, he is removing the wiring and copper tubing from the walls. He's selling the hot water tank, HVAC unit and the ductwork. He's removed all of the drywall and it's down to the bare studs. I tried to warn him that he is going to be responsible for the difference in the loan and what the bank can actually sell the house for. He said that he has to survive and that's all he has left.

I don't agree with what he's doing, but when your back is up against the wall people do the wildest things! How much trouble can he really get into? I hope he doesn't go to jail!

He should be sued. By the time one gets the foreclosure notice, he hasn't been paying for a long time, can be two three years. He had options way before it came to this state.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What he's doing is not uncommon -- foreclosures are frequently stripped bare.

Data? Source? Are u op?

No, but I'm someone who's purchased a foreclosure. They are frequently stripped of as much stuff as can be sold and frequently vandalized.

[Anonymous]

What a POS. I'd dump him as a friend like a hot potato.

[Anonymous]

Anonymous wrote:What a POS. I'd dump him as a friend like a hot potato.

It's easy to say things on the internet.

[Anonymous]

Honestly he sounds like an addict.