Home In Foreclosure Goes Up In Flames; Purchased With 100% Financing Less Than Year Ago

In Lathrop, California, News 10 reports:

• Less than a year ago, the house at 16671 Ore Claim Trail in Lathrop sold for $650,000, but neighbors say they never saw anyone move in. Three weeks ago, the lender filed a notice of default against the owner. And on Monday night, an unusually violent fire blew out the windows of the home before the first firefighters arrived. Inside, they found the body of an unidentified man. [...] Property records show the house is owned by Emmanuel Sibug, who owes about $100,000 more than the home is worth.

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• The fire appears to be the second bit of misfortune to strike the same family in the same neighborhood this year. On January 12, federal drug agents raided an indoor marijuana growing operation at 700 Pioneer Avenue, less than a half mile away. The former pot house is owned by Jesus Sibug. It remains vacant and still shows signs of the raid ten months ago. Both houses were purchased at about the same time using the same lender with 100 percent financing. News10 tried contacting members of the Sibug family. A woman who answered the phone at a Sibug listing in Mountain View said Emmanuel and Jesus are brothers.

For the story, see Lathrop Foreclosure Fire Leads to Homicide Investigation; go here for News 10 video (no longer available online).

See also, Answers sought on fire, dead body (Man discovered during blaze at foreclosed Lathrop home) ("Like many of the homes on the block, the home was empty and in the foreclosure process.")

For more on fires & foreclosures, go here and go here. foreclosure arson yak