Unaffordable House Payments, Homeowners Seeking Insurance Cash Arouse Arson Fears, Say Some Industry Players

Realty Times reports:

• Insurance fraud investigators say they are bracing for an outbreak of home arsons set by cash-strapped homeowners looking for insurance money to escape from foreclosure. [...] The Coalition Against Insurance Fraud says the illegal tactic is not new, but the coalition fears current market conditions could trigger a home-based arson outbreak beyond normal levels. [...] "I don't believe that it's had time to ripple through the market yet to the point that many people have reached the point of desperation, but I absolutely think it's coming" says Alex Ahart, a fire investigator with EFI Global, an insurance claims investigator.

For more, see Burning Down The House.

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