Sunday, February 3, 2008

what's next after the mortgage mess?

Rising foreclosures and falling housing prices in Amerika Syarikat r driving americans to insane...

They started to set their houses on fire!

Well, boys, these are not necessarily lower-middle-class people.



MSN News:



This is all over the place. . . . there are some extremely wealthy individuals, based on the size of the home and the contents of the home, people who were living some lavish lifestyles who no longer can afford that."



Many observers say there's no question that people commit arson under economic stress. "Traditionally, there will be some acts of fraud that are driven by the economic conditions, no question about it," Scafidi says. A slice of the normally law-abiding population -- in every economic stratum -- will seize on arson as a solution under the right set of pressures, he says.



Stressed homeowners who intentionally leave a pot with oil on the stove or deliberately provoke an electrical fire may assume that their intent will be impossible to prove. But arson investigators are becoming increasingly focused and sophisticated. The Insurance Services Organization manages a database used to compile and cross-reference information about all insurance claims. Investigators use it to spot repeat claimants and those who collect multiple payments by insuring the same property with several different companies.


"A lot of people don't realize the extent to which insurance companies investigate these," says Brisco. Arsonists who think, "'Oh, yeah, insurance companies will just pay out this money -- they won't conduct any investigation,' are in for a surprise."

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