More On Arson & Foreclosures

The St. Petersburg Times reported recently:

• It's one of the most drastic consequences of the mortgage meltdown - people who burn down their homes so they can collect the insurance money and wiggle out from under their loan. The premise is hardly new - dozens of homes in New Orleans mysteriously caught fire in the weeks after Hurricane Katrina when homeowners apparently discovered they had fire, but not flood, insurance. What has fraud investigators worried now is whether the growing mortgage crisis will lead to another, far more widespread, spike in arson cases.

For more, see Call it mortgage lightning (A storm of home arson is expected as owners' loan rates reset and payments jump).

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