Foreclosure Treasure Finds

[lurediver]

Here are a few finds from some of the foreclosures I enter. There's a few gold rings and a bunch of silver rings and necklaces. I have a few hundred dollars in change, 1 lb. in silver coins and a ton of other goodies.

 

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[Casull]

While we're on the subject of foreclosures, I was watching something on TV a few weeks ago an they said the best way to avoid foreclosure (besides paying your mortage) is to ask to see the orginal papers... most of the time the time these papers are lost cause they jump from broker to broker an they Legally have to find them if you asked to see them before they can foreclose your house... that is only the very tip of that iceberg I can't remember all the fine details

There's only one original document that they would have to produce, and that is the Note. Everything else is basically documentation for the secondary loan market.

 

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I agree foreclosures are a sad thing but this doesn't have to be that way. I have supplemented my income for years from buying and selling precious metals. All that you see here can still be easily found at garage and estate sales for next to nothing. There are a lot of people who still think it is old jewelry and sell items like this for 25 cents. A lot of people still don't realize that precious metal content has a value or they don't even know that it is silver or gold. It is no surprise that people leave this stuff behind because they still sell it for next to nothing at content sales.
Good for you that you are able to obtain treasures like this through your work.
Thanks for posting.
Dave.

 

[gemee]

I don't think I'd have it in me to gloat, brag or be happy about how I got items from homes (people) that were foreclosed on.

Guess he should leave them for the next tenant, the bank, the guy who replaces the carpet...-?

Seriously, I've heard the same sort of criticism from some people who see me metal detecting beaches, swimming holes, fairgrounds, etc. Back in the 90's I found a Confederate D-Guard Bowie Knife metal detecting the fringes of a battlefield. I was showing it to someone a few days later and his co-worker asked me if I was "planning to return it to the owner". When I told him that "the owner" had been dead for at least 50 years if not 130 years (back to the time of the CW battle) he continued that I "should try to get it back to the original ower's family/heirs". When I asked how he proposed someone determine who that was, he said that "I'm sure there was a list of things lost during the battle." as if it was a Sunday School picnice and there was a Lost and Found section.

What a Dumbass this person was, to have made such ignorant statements!!


On another note, I find one of the real tragedies of some of these foreclosures, is when these people leave their animals trapped inside the house, and they are found weeks later...

 

[lonewolfe]

Nice!

HH

 

[Philvis]

lurediver,
I take it you are in the property preservation business where you are paid to trash out foreclosed/REO homes or some other aspect of property preservation? That is pretty much the only way you can have access to what is left on the property once the former owners have left unless you are the agent for the home. I work in REO for a mortgage company in the Southeast so I am well aware of the property preservation companies. It really is a cash cow at the moment.

 

[E59]

Great finds! I wish people didn't get riled up so easily.......I see nothing wrong with what you do. I would do it myself if I didn't live in a community of less than 300 people.
As for home foreclosures, they are sad and all but there are so many people out there buying houses that they can't afford. I bought my house and it was less than most cars. I like the prospect of fixing it up. I COULD go buy a 200,000.00 house if I WANTED, the bank would be more than happy to loan it to me but is that a smart idea? NO. So my sympathy for the foreclosed upon only extends to those with disabilities and deaths. We can all lose our jobs at one point and many could have been buying a home within their means instead of trying to look good for the sake of illusions.
So happy hunting to you.

 

[silvercop]

amazing what people leave behind

 

[hikeinmts]

I don't think I'd have it in me to gloat, brag or be happy about how I got items from homes (people) that were foreclosed on.

Guess he should leave them for the next tenant, the bank, the guy who replaces the carpet...-?

Seriously, I've heard the same sort of criticism from some people who see me metal detecting beaches, swimming holes, fairgrounds, etc. Back in the 90's I found a Confederate D-Guard Bowie Knife metal detecting the fringes of a battlefield. I was showing it to someone a few days later and his co-worker asked me if I was "planning to return it to the owner". When I told him that "the owner" had been dead for at least 50 years if not 130 years (back to the time of the CW battle) he continued that I "should try to get it back to the original ower's family/heirs". When I asked how he proposed someone determine who that was, he said that "I'm sure there was a list of things lost during the battle." as if it was a Sunday School picnice and there was a Lost and Found section.

What a --deleted-- this person was, to have made such --deleted-- statements!!


On another note, I find one of the real tragedies of some of these foreclosures, is when these people leave their animals trapped inside the house, and they are found weeks later...

The first person (one who was quoted) made a very uninformed statement.......then a comment on the first person was made, which was as uninformed as the first. Most who are not in our hobby JUST PLAIN DO NOT KNOW OR HAVE THE LEAST IDEA ABOUT
METALS/MINERALS, and how much is left, by others, in the ground/in the houses/lost/whatever.
To say this person was a ------------- person, is making as rash a judgment as that person was in talking about getting a list of lost items. Neither know. No reason to follow a bad comment by another bad comment.

 

[silvercop]

just to let everyone know i have a friend that runs a clean up service and is hired by several banks to clean out these homes. the bank hires a dumpster service to drop a roll off at these houses and my friend comes in and cleans out the houses. he can keep anything he wants. when he is finished the bank calls the roll off service and they pick up the dumpster and haul it to the dump. my friend has not found much jewlery but he has gotten gas grills, lawn mowers, and a few tv's, one of which was a new big screen. when he is finished cleaning the property he takes photos for the bank so they will know who to send to make repairs to get the property on the market.

 

[Philvis]

I respectfully disagree. These property preservation companies that do trash outs come into these homes after the former owners have either been evicted forcefully via court order or left on their own accord without an eviction. Either way, they had an opportunity to take what they wanted. It is no different than when people abandon various items of personal property when they leave a rental or apt. The banks do not change the locks suddenly and then request a trash out while the unlawful tenants are locked out. A person ALWAYS has the opportunity to take their belongings. What is left is what people don't want to take with them. It is going to go into a landfill anyway, so I think it is great some stuff can be salvaged by those cleaning up the mess left behind. You would be amazed at the junk people leave behind. It saves them the hassle of having to clean it out and find a place to store it anyhow.

 

[cdltpx]

My wife was a property manager in Biloxi MS she and I did most of the work there. You would be shocked at the things people will leave behind. Some things were items they said do with it as you wish others said just toss it. The greatest value we would get was the food people leave behind unopened can goods frozen steaks.
One time we had a guy that liked to sleep with other mens wives slept with a troopers wife and was afraid togo near the apartment after he was found out he left the entire apartment all he took was what he could carry in his car and said keep the rest.
Sometimes people do things and are not in their right minds and those that are in a position to can profit from this but that isn't their goal to take things from these people. When you manage a property your goal is to return the property to rentable status it isn't all glory you have to clean some of the nastiest disgusting things you never imagined but you get some things too.

 

[briankb70]

people sure do leave alot behind

 

[jeff of pa]

Nice Finds !

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[swabby]

The bank can't Keep the items. They can be claimed up to the point of a cleanout. Once cleanout is ordered then the objects left behind are considered trash. They can then be claimed. I am a Realtor in Florida and laws vary by state. In general after a foreclosure on a house takes place, there is an eviction process that occurs. The Eviction process starts after the bank owns the property. The sheriff will post an eviction order, here 3 days before he shows up. On that third day a schedule is set by the sheriff, everybody else schedules around that time. The "cleanup crew" comes in after the sheriff removes the previous owner and moves all possessions to the curb and changes the locks. It is not like the people didn't know it was coming.
It amazes me the power of denial, I have gone to the previous owners before the eviction takes place, let them know the bank now owns the property, offer relocation money (the banks generally do this because it is cheaper to give someone money than to go through the eviction process) be asked to leave the property and never come back. A couple of months go by and I get a call from the sheriff office with the time of eviction. When I show up it is amazing the amount of people who claim that we can't do this with letting them know, by then they have had 3-4 personal visits from people as well as a few pieces of correspondence over that 2 month period.
Again I say Denial is a powerful thing. It is sad, but unfortunately it is a necessary part of my job.
In response about producing the mortgage response. I have read recently that only acts as a stall tactic, The original mortgages are stored it just takes time to find them. But hey it may give you a few more months...go for it.

 

[spartacus53]

It's surely is a sad sight when someone loses a home, but if that were me I would make sure that I left with everything of value, like coins and jewelry for starters.

 

[crazyjarhead]

I know where there is a home nearby that they left everything inside. I guess they left in a hurry. Makes you wonder about people sometimes. Nice cache

 

[curious]

Nice finds. Most people would have a different view if they could see how people trash these houses and how they file bankruptcy when they are getting ready to lose their house just to prolong it and get to live for free months longer.Don't get me wrong there are some sad stories but most part these people are crooked as can be. Most would have a different view if it was their money invested and they were not getting paid for the house or had to live by a house that the people living there had junk piled everywhere outside and by junk i mean trash. That is not out in country either this is subdivsion with 3 hundred thousand dollar houses. People have no idea what it looks like unless they have seen some of them. I have been doing clean ups on some myself.

 

[Treasure_Hunter]

Here are a few finds from some of the foreclosures I enter. There's a few gold rings and a bunch of silver rings and necklaces. I have a few hundred dollars in change, 1 lb. in silver coins and a ton of other goodies.

Mind stating the capacity in which you "enter" these foreclosures? Might help avoid issues on this sensitive subject, thanks.

Lurediver said it was job related. Once the bank owns the property, third-parties are contracted to clean the properties. They "own" the trash.

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Correct, the wife and I use to run a cleaning service for several property managers. Many of the houses we cleaned were abandoned, where people walked out in dark of night owing money. We were told by property mangers to keep anything we found that we wanted, and to throw everything else away. I asked about possible valuables found while cleaning, and was told "they owe us a lot of money, keep what you want and throw the rest away."

 

[diggummup]

More power to ya lurediver. The way I see it is, if you are still squatting in a place by the time the bank forecloses on the property then you deserve to lose whatever is in there. Before you jump on my comments let me also say i've been there (had a house foreclosed on) and it isn't something that takes place overnight, it takes months and sometimes more than a year before you get locked out of a property.

 

[ivan salis]

while its very sad that folks lose their homes ----the guy has a legit job --banks own the house and anything left behind in it once the house is foreclosed on -- they hire folks to clean em out so they can then show / resell the home -- he finds stuff and rather than just trash it saves it -- hes not gloating over other folks misfortune simply enjoying his good luck --for every ring finder out there --theres a ring loser --for every coin finder --a coin loser