SocraticGadfly: Another reason for banks not to foreclose?

December 23, 2009

Another reason for banks not to foreclose?

Especially in places where the housing bubble grew the most and imploded the loudest, buyers now getting foreclosed are doing "foreclosure stripping sales." Fixtures, appliances, trees, even ... if it's moveable, it's being offered for sale.

A lot of people are advertising the goods on Craigslist.

Of course, the story goes on to note that in Phoenix, this has led the FBI to be a regular visitor to the Phoenix Craigslist pages.

I hope, really hope, that the feds go after Craigs itself, and not just individual homeowners. Considering it has gotten off the legal hook so far on running racist home-for-sale ads, it would be a bit of poetic justice.

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