Home Foreclosure News: 13.9% of All Foreclosed Properties Vandalized

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The actions of angry homeowners and vandals combine to make damage of foreclosed properties a real pain in the patootie for banks, lenders and other mortgage holders. According to the ABCNews.com article, Here’s the Kyes, and Some Cement Down the Drains:

About 13.9 percent of all real estate properties owned by a bank or agency were so badly damaged that they did not qualify for standard mortgage financing, according to data collected from real estate agents across the country for November 2010.

And, as the foreclosure crisis continues over the next couple of years, it would behoove mortgage holders to keep the Tylenol close because more headaches are on the way.

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P.S.: Start a Business Cleaning Foreclosed Properties. While the foreclosure crisis has been a nightmare for many, it has presented a perfect small business opportunity for others. Learn how to start a foreclosure clean up business. Read how one foreclosure cleaning business owner rakes in $40,000/wk (not a typo).

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