House in foreclosure? Set it on fire!
Filed under: Home, Insurance, Ripoffs and Scams
News reports say that as the number of mortgage foreclosures increases, so do the number of "suspicious" fires. When the fire occurs mere days before a homeowner will be forced to leave their house due to foreclosure, it obviously creates suspicion.
Some homeowners do it to get revenge on the mortgage company or bank. Others do it thinking that they will collect insurance money that can be used to prevent the foreclosure. Check out this video on setting houses on fire, especially in areas with higher rates of foreclosure.
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
Some homeowners do it to get revenge on the mortgage company or bank. Others do it thinking that they will collect insurance money that can be used to prevent the foreclosure. Check out this video on setting houses on fire, especially in areas with higher rates of foreclosure.
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
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Reader Comments (Page 1 of 1)
5-13-2008 @ 2:50PM
OpenEyesUSA said...
Some people have NO conscience. And to think that they will risk going to jail too. With their financial problems, this is certainly not going to solve anything. The piper has come calling for those living a "borrowed" standard of living and it is time to pay up. Instead of making more bad decisions, people need to just buck up. No pity here.
Reply
5-13-2008 @ 5:12PM
Jack (SFC: 4983 4617 3409) said...
The only thing worse than the actual story is these anchors. Jeez, I've never seen/heard so many bad puns in my life. Also points to the female news caster who brought me back a few years with GIANT FINGER QUOTATIONS.
Reply
5-20-2008 @ 1:19AM
nmos655897 said...
This is a good video, and more people need to see it - especially those people face hard times and possibly foreclosure. Maybe seeing this video will prevent people from taking such foolish and disastrous actions. Burning your house down is a HUGE CRIME punishable by HUGE FINES and JAIL TIME and a CRIMINAL RECORD. IT WILL NOT FREE YOU FROM DEBT.
Everyone should be aware that people facing financial problems face a lot of stress and grasp at any chance of hope that they can - even burning down their home.
I hope this video makes its rounds on the Internet and television networks.
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