In Texas, many of those foreclosed homes are being stripped of all copper wiring, kitchen cabinets, built-in appliances, bathroom vanities and tubs...anything that can be resold.
It seems that the banks will have to completely refurbish or bulldoze some previously nice homes, which is a foolish way to run a business. It would have been much more cost-effective to keep the occupants in with a reduced monthly mortgage payment.
Appears to me that there is a golden opportunity to create a new business simply checking foreclosed houses for squatters. $75.00-$100.00 buck a month per home for a daily physical check to see if entry has been made. 25-50 house checks daily....hmmm.