Saturday, April 25, 2009

More On Foreclosure Arson

The following links are to stories on property in foreclosure that have mysteriously gone up in flames:
  • West Asheville, North Carolina: The Asheville-Buncombe Arson Task Force has identified enough physical evidence at the historic Richmond Hill Inn in West Asheville to determine the cause of the fire to be intentionally set. The fire reduced much of the inn’s 120-year-old mansion to rubble. The months leading up to a devastating fire today at the Richmond Hill Inn were fraught with conflict as current and former owners battled over a $6.8 million debt. The historic inn building and surrounding complex were set to be sold April 16 on the courthouse steps because of an unpaid mortgage. See Fire-ravaged Richmond Hill Inn was in foreclosure.

  • Stockton, Missouri: The owner of three businesses and the strip mall that housed them is charged for the fire that destroyed them. Investigators think that owner Dan Thornton, 38, wanted the building burned so he could collect insurance proceeds. According to an ATF investigator: "Investigators have also determined through their investigation that Dan Thornton has several current, adverse financial situations that he was dealing with. For example, Liberty Bank, in which Thornton had his building/business mortgage, had recently initiated foreclosure proceedings against Thornton. Thornton, through his own admissions to investigators, was heavily in debt and had been trying to sell the building and businesses for the past year and a half." Investigators have determined that Thornton maintained approximately $900,000 in insurance coverage. See Owner of burned strip mall in Stockton is charged with arson. Go here for Criminal Complaint & Probable Cause Affidavit.

  • Hudson, Ohio: The son of a homeowner was arrested in connection with a fire that broke out at a foreclosed Hudson home. Twenty-nine Hudson firefighters battled a house fire. The main part of the house was destroyed by the fire. Damage is estimated at $400,000 to the structure and its contents. The home was involved in a foreclosure action at the time. See Son Arrested In Connection With Blaze At Foreclosed Home, Officials Say ($400,000 In Damage Done).

  • Toledo, Ohio: Already this year, Toledo firefighters have battled more than twice as many arsons as they did during the same time last year - a trend Deputy Chief Phil Cervantes fears could worsen. Chief Cervantes said the spike in arsons locally is likely related to the economic downturn and the increase in the number of foreclosed houses. An increasing number of people are setting houses or vehicles on fire to get out from under loans or mortgage payments. See Arson rate doubles in city in last year; motivation for setting blazes varies.

For other stories on fires & foreclosures, go here, go here, go here, go here, go here, and go here. ForeclosureHomeVacantBeta