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Kiyoshi Tomono's Blog

Keys For Cash and House Stripping

Update---ON OCT. 26, A BANK REQUESTED BAKERSFIELD POLICE FILE A CRIME REPORT REGARDING APPLIANCES TAKEN FROM THIS HOME.  THE POLICE DEPARTMENT SAYS THE REPORT IS PENDING.  UNDER NORMAL CIRCUMSTANCES, THE REPORT WILL BE READ BY A DETECTIVE, WHO DETERMINES IF MORE FOLLOW-UP AND INVESTIGATION NEEDS TO BE DONE.  AND *IF* THERE IS ENOUGH EVIDENCE, THE CASE IS TURNED OVER TO THE DA'S OFFICE.

-KIYOSHI

There's a new problem with real estate foreclosures as some residents have resorted to stripping everything from appliances to door-knobs from foreclosed homes before the houses go back to the bank.

17 News has uncovered two cases where the homes that have belonged to former members of the Crisp and Cole Real Estate team.

The first home was owned by Jeriel Salinas, a current agent with Crisp Realty.

Click the video link to view pictures of three men taking thousands of dollars in property from the home just two days prior to it being sold back to the bank due to foreclosure.

"When we came in, we noticed that the appliances were missing," said real estate agent Susan Ferguson, who said, after walking into a Seven Oaks home, "Oops, there's no stove. Oh wait a minute, there's no dishwasher. No hang on a minute, there's a microwave missing."

A neighbor said she took digital pictures on Labor Day of a male trio backing up a red truck into the home's driveway and securing a $4600-Viking stove to a flatbed trailer.

In all, Ferguson said it's nothing short of stealing.

"The loan company, the mortgage company, the investor or whoever is making the loan, bases the loan," she said.

Salinas stopped making payments on the home, so the lender took it back two days after the pictures were taken.

Calls to Salinas were not answered.

Workers at another home said what occurred at the Seven Oaks home is a drop in the bucket, saying door handles have been taken before.

"My boss just spent $1,300 replacing the door handles," said construction worker Robert Velez.

Velez walked 17 News through a million-dollar home formerly owned by Crisp and Cole Real Estate broker Jayson Costa.

Velez said business is good.

"We've done a lot of foreclosures, and yeah, a lot lot of houses," he said.

The agent now trying to sell the home said more than $20,000 in property has been taken.

There may be incentives for folks who own or are renting a foreclosed home.

Ferguson said the banks don't want you to abandon or destroy the property, and they may even offer you cash to help move out.

It's a program called cash for keys.

Published Thursday, October 25, 2007 8:21 PM by Kiyoshi Tomono
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About Kiyoshi Tomono

Kiyoshi Tomono joined the 17 News team in March of 2004. He currently anchors 17 News at Sunrise and reports for other newscasts. Kiyoshi has won two Golden Mike Awards and an Associated Press Mark Twain award for his investigative and feature reporting. He is also the recipient of the 2008 RTNDA Edward R. Murrow Award for investigating reporting on Crisp and Cole Real Estate that ended in an FBI raid of the company

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