"I'll huff, and I'll puff, and I'll blow your house down"... so the fairy tale goes. It's an old story... in more ways than one... but still a good one. And who would have thought this long revered childrens' story, "The Three Little (homeowner) Pigs", battling the evil (lender) wolf would manifest itself in a new light with the 2007 real estate trends?
It's nothing new that some homeowners manifest their rath by trashing their home when faced with impending foreclosure. I've always had a hard time understanding that mentality. I guess I'm one of those who'd leave my place spotless as a certain sense of pride.
Not so for Shane Lovett of Eagle Creek, OR. Last May (as I said, old but still a good story...), angry at the foreclosure, Mr. Lovett locked three pigs in the home, sans water and food, in hopes they would trash the home and further devalue the property.
It's disingenuous for Lovett to believe the lender deserved further losses than they were already about to assume. Loans are generally made in good faith that the buyer will honor the terms, and repay the loan (or refi). But lack of knowledge of the industry may just prove Lovett's rath was aimed at the wrong financial institution. For if Lovett obtained the loan thru a broker, it's entirely possible that the foreclosing entity merely purchased the note on the secondary market, and therefore was not the originator of the loan and it's terms. Thus he was deliberately destroying property for a completely uninvolved third party.
But when human emotions run amok, logic is generally the first casualty.
Of course, what riled me the most, was the treatment of the pigs. No water??? Sorry Shane... lost any empathy from me there. The temporary tenants of Lovett's home were, according to Thomas Getten, an animal rescue expert from Estacada, a little dehydrated, but otherwise just fine for the ordeal.
You can view multiple photos of the interior and the pigs. Odd thing is, I've had quite a few REO foreclosures, and the homes looked much the same. Hummm... I'll bet the majority of the visual mayhem was Lovett's doing... meaning the pigs demonstrated more "pride of ownership" than the dis'GRUNT'led owner.
It's nothing new that some homeowners manifest their rath by trashing their home when faced with impending foreclosure. I've always had a hard time understanding that mentality. I guess I'm one of those who'd leave my place spotless as a certain sense of pride.
Not so for Shane Lovett of Eagle Creek, OR. Last May (as I said, old but still a good story...), angry at the foreclosure, Mr. Lovett locked three pigs in the home, sans water and food, in hopes they would trash the home and further devalue the property.
It's disingenuous for Lovett to believe the lender deserved further losses than they were already about to assume. Loans are generally made in good faith that the buyer will honor the terms, and repay the loan (or refi). But lack of knowledge of the industry may just prove Lovett's rath was aimed at the wrong financial institution. For if Lovett obtained the loan thru a broker, it's entirely possible that the foreclosing entity merely purchased the note on the secondary market, and therefore was not the originator of the loan and it's terms. Thus he was deliberately destroying property for a completely uninvolved third party.
But when human emotions run amok, logic is generally the first casualty.
Of course, what riled me the most, was the treatment of the pigs. No water??? Sorry Shane... lost any empathy from me there. The temporary tenants of Lovett's home were, according to Thomas Getten, an animal rescue expert from Estacada, a little dehydrated, but otherwise just fine for the ordeal.
You can view multiple photos of the interior and the pigs. Odd thing is, I've had quite a few REO foreclosures, and the homes looked much the same. Hummm... I'll bet the majority of the visual mayhem was Lovett's doing... meaning the pigs demonstrated more "pride of ownership" than the dis'GRUNT'led owner.
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