October 2009

You are currently browsing the articles from bankownedassets.com written in the month of October 2009.

New Owners of Foreclosed Property Met With Gunfire

This is the side of foreclosures that you don’t see every day. It is certainly an emotionally greuling experience to lose one’s home, and sometimes it can put people over the edge.

Yesterday in Phoenix, two men who purchased a home went to claim it, only to find the disgruntled home owner inside.  He was in fact, yeilding a gun and began to shoot towards the men.  Police were called and later shot and killed the former homeowner. You can read the full story regarding the incident here

This is certainly not a situation that most people entertain when buying a foreclosed property, but there are certainly cases where homes are sold at auction where people (homeowners or tentants) are still living in the home. If you are ever in such a situation, my advice is to never confront the homeowner, but rather contact the police immediately.  Of course, I would imagine it would still be a bit unsettling to buy a property that someone was living in and not wanting to give up for concerns over possible retaliation. Not because it is warranted, but because when people are pushed beyond their limits in stressful situations, logic most often does not prevail.

Written by boablog on October 1st, 2009 with no comments.
Read more articles on Uncategorized and foreclosures.

Top States for Foreclosures as of August 2009

This should not come as a surprise to anyone who follows foreclosure trends, but the top 3 states for foreclosures as of August 2009 (according to Realty Trac) are Nevada, Florida, and California. This is a bit of good new for Arizona (where I reside), having dropped to #4.

For the full story, visit Realty Trac.

Written by boablog on October 1st, 2009 with no comments.
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