The Real Deal Miami

Many foreclosed homes left damaged

April 08, 2008 12:16PM

An increasing number of South Floridians whose homes are foreclosed on have handed them over to lenders in substantially damaged. About half of foreclosed properties are given to banks in poor condition, according to a nationwide survey. While some cases are the result of neglect, many agents believe that bitter homeowners are damaging some houses on purpose. Some lenders are even offering an incentive, called “cash for keys,” of as much as $2,000 to a homeowner to leave a property in good condition.