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Jill, Other/Just Looking in

we have neighbors who are foreclosing on their house (havent come out and said it, but we saw it in the

Asked by Jill, Mon Aug 18, 2008

paper) they are offering us trees, lighting fixtures, etc. I am wondering if we do take these items are we going to be held liable for these assets when the house is sold?

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I most likely not get involved in that situation. The bank as all ready have the property photographed and etc. there could be legal matters involved. GREAT QUESTION !
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Web Reference: http://www.lynn911.com
1 vote Thank Flag Link Mon Aug 18, 2008
you may not, however they will. i dont think they realize they will be responsible for any damage they cause as well as they are responsible for the difference of what the home sells for at auction or a bank sale and what they owe. if they strip the house, the house is worth less and therefore they will owe more money. if the bank deems they can repay the money they can choose to wipe out the debt but they will be responsible for the taxes on the amount th bank wipes out. the bank can also hold this amount over them forever and apply it on a new home they buy in the future. they are only hurting themselfs..
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Mon Aug 18, 2008
What happened? Sorry to hear about their situation, but it seems to be common. Millions of people bought more house than they could afford. I would not take any of their fixtures, etc.
0 votes Thank Flag Link Mon Aug 18, 2008
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