I’m trying to figure out who a foreclosed home belongs to. Does it belong to the homeowner until the bank takes repossession. If so do the homeowner have a right to do anything they want with the home during that time.

I’ve heard of foreclosures taking 3 – 4 years, and sometimes long, for the banks to take back possession of the home. During that time owner are living in them rent free. Not only are they living rent free but they’re selling everything they can out of the home. They’re selling the A/C units, cabinets, toilets, doors, light fixtures, and any other thing with any value.

So what does everyone think… Is it OK for the owner to strip the house or does the house with everything, except personal items, belong to the bank and they should remain intact with the home? Comment and let me know how you feel.