Why Are Middle Class Citizens Committing Crimes Such As Arson And Insurance Fraud Lately?
Feb 17, 2008 by Twilight | Posted in Other - Politics & Government
contemplate on this. you were foolish enough to think you could swing a loan and buy a half million dollar house. then, oops here came a recession, who could have expected that? desperation leads to misdeed.
Are they? I don't assume it's happening in any greater numbers than before.
italienne | Feb 17, 2008
The same debate with so-called upper and lower class citizens are.....
Miss Patches | Feb 17, 2008
Because a lot of people have earnings that along them presume they are middle class, but they have not had the upbringing or manners to know the imbalance.
Mick B | Feb 17, 2008
deliberate over this. you were foolish enough to think you could swing a loan and buy a half million dollar retreat. then, oops here came a recession, who could have expected that? desperation leads to lawlessness.
Golden | Feb 17, 2008
Question About Arson And Insurance Fraud?
Aug 14, 2007 by don c | Posted in Insurance
Ok,
I have began investing in verified estate. I was speaking to another investor at a REI club and he told me something that shocked me stock. He said that he bought a house for $5000. It was in poor condition, no hot deuterium oxide heater or furnace, holes int the wall, kitchen cabinets gone, etc. He said that he patched the holes, painted the walls and it was appraised for $35000. He then paid someone in the neighborhood (a bad neighborhood) to throw it down. A month later he collected the insurance money (a little more than the appraised amount $45k comprehensive).
My questions are:
1. How could he have gotten insurance for this house? Isn't there a pre-insurance inspection for homeowners insurance, or does it not sum what shape the house is in? This house was pretty much unlivable.
2. I was under the impression that a uninhabited house can not be insured. Am I wrong here?
3. Is there anything that local authorities can do in a situation like this? Would my declaration help, or would it not matter?
1. All things considered the inspection happens 30 days or so after the insurance is put into place. There ARE companies, that specialize in insuring sub-paradigm housing. Usually Lloyds of London or Foremost Insurance, come closely to mind. Also, if the AGENT was in on it, that would help him do it.
2. Yes, you're wrong. I've insured LOTS of unfilled houses. You have to write a vacant fire policy on it - which costs more, and covers less, but it IS insurable. MOST companies won't detract a vacant house, but again, there are substandard companies that will. Again, Lloyds and Main BOTH do vacant houses, along with low-value houses.
3. You can always report this as insurance fraud, to your state insurance branch. THEY are the people who can investigate the claim. Keep in mind, authorities can ONLY prosecute if there is Validation of who set the fire, etc.
One more thing to keep in mind . . . there's a central database for claims. If someone has one arson assert in a bad neighborhood, oh, that's too bad. If someone has TWO, that's very suspicious. This guy PROBABLY is going to have a very hard time verdict insurance coverage - not just for his INVESTMENT properties, but for ANYTHING. Without evidence, just based on the actually that there was an arson claim.
He is giving a big fair-skinned lie, if this is true if he is caught he will spend sometime in asspounding prison.
Mr. Fancy Pants | Aug 14, 2007
1) most of the time no inspection; only location matters
2) they don;t know how many people are actually living in it, and no it doesn't dilemma. Any house can be insured as long as someone owns it. If it gets fuucked-up, you still have to pay to renewal the damage even if someone doesn't live there
3) your testimony may help, and the insurance companies will meet it much
Insurance fraud is one of the top crimes in America
A A | Aug 14, 2007
1. THERE IS NO PRE-INSPECTION
2 THERE ARE NO OCCUPANCY REQUIREMENTS
3 YES THERE IS---CONTACT A FIRE DEPT ARSON INVESTIGATOR....LET THEM Scrutinize IT....IF THERE IS PROOF THEY WILL BRING CHARGES
petey00petey | Aug 14, 2007
He could have gotten a essential fire policy on it if it was vacant, or, he could have gotten a policy for house under renovations, saying it was a fixer-upland, so the condition wouldn't have mattered that much. In both of these cases, fire would be covered. He would have had to purchase vandalism singly (on the same policy but a separate coverage on a basic fire policy). If it was in his subject name, it would have been a commercial policy. He may not have been able to get liability coverage but it seems he didn't exceedingly care if this was his intent all along.
He must have known exactly what to say & how to act toward the claims adjuster because they are trained to distinguish fraud by people's words & actions. He must be good and/or got a new adjuster.
If I were you, I would report this to your peculiar police department & fire department & see if you can find out who the insurance company was (the fire department may have had to speak to the insurance plc & someone may remember who that was). If you can get a hold of the insurance company name, report it to them too.
People like him discover us ALL pay higher premiums. Insurance fraud has been estimated to be in the billions of dollars per year, from padding legimate claims to model fraud to felonies like arson.
Sue | Aug 14, 2007
1. Contracts for insurance act under the principle of "uberrimae fidei" which is Latin for "utmost unspoilt faith". Insurance companies have to trust the policyholders and they have to reliability the companies (although the principle seems to get a bit bent on that side of the deal!). So they assume that the householder is sincere - the contract is void is that is untrue.
2. On the contrary, vacant houses are more at gamble and so need insurance more - insurance companies will not insure a house that is long term uncomprehending under the usual domestic policy that is all - they will insist on some kind of managing delegate or security cover.
3. This is a police matter as it is fraudulent conversion and whipping to arson. Both serious offences. You can't give evidence as you don't "know" - what your one investor said is called "hearsay". If you saw him reach the deal with the arsonist or saw the arsonist torch the house you could give evidence. Some insurers and some jurisdictions have anonymous phone lines to piece suspicious behaviour - you could look for one of those.
morwood_leyland | Aug 15, 2007
Can I Maintain A Bank Loan For A Vehicle That Is Destroyed W/ No Insurance?
Jul 18, 2007 by Trouble | Posted in Personal Finance
Horribly enough, my pacify attempted suicide in his truck and the truck burned up and he received disagreeable burns in the process. If that isn't enough to deal w/ the police said that if we file an insurance assert for the 1.5 y/o truck that they will prosecute him for arson and insurance fraud. So, I have a loan for 3.5 more years. If we advocate possession of the truck and continue to insure it, can the bank call in the loan if they find out? I changed the insurance to storage insurance only which is lawful. I don't know if I should come clean w/ the bank and try to get them to refinance it as a signature advance, or if I should just keep quiet. I don't have the $24,000 that is owed on it, and don't have that much equity in my home. I have 2 kids, and can not bow to my house. Does anybody have any knowledge on where I stand w/ the bank? We have a very facts relationship w/ our bank and we hate to lose it and not have them help us in the future. So don't pauperism to screw them over.
For most car loans the collateral for the advance is the vehicle itself. Therefore if the vehicle's value drops significantly it will decrease the bank's collateral if you were to stoppage making payments. This could cause the bank to call the loan.
Honesty is the overcome policy. Discuss with the bank the situation and try to refinance the loan into another genre of lending agreement.
For most car loans the collateral for the allowance is the vehicle itself. Therefore if the vehicle's value drops significantly it will decrease the bank's collateral if you were to an end making payments. This could cause the bank to call the loan.
Honesty is the largest policy. Discuss with the bank the situation and try to refinance the loan into another fount of lending agreement.
There should be some options available for you.
Hotcakes 16 | Jul 18, 2007
Family Guy - Arson Beetle
The beetle acused of arson in the Blood Guy episode: One if by Clam, Two if by Sea. I DO NOT own Family Guy, in any feasible way.
A Vailsburg Mid School guidance counselor was sentenced
to a year in jug yesterday for torching his BMW, as well as
a friend's car, as part of a scheme to defraud
insurers, the Essex County Prosecutor's Room said.
Superior Court Judge Torkwase Sekou, sitting in Newark,
imposed a 364-day verdict on Kenyetta O'Bryant, a
38-year-old North Plainfield man who holds a doctorate,
worked as an adjunct professor and had worked as a counselor
at the Newark boarding-school.
"It was just pure greed," Michael Morris, the
accessory prosecutor who handled the case, said of the motive.
On Sept. 28, O'Bryant pleaded penitent to charges of
third-degree arson and third-degree insurance fraud for
setting his 2002 BMW aglow in Weequahic Park in Newark to
collect the insurance money after first reporting the hedonism
car stolen in Elizabeth, officials said.
He owed just about $35,000 on the vehicle, officials said.
Six days later, on April 19, 2006, O'Bryant concocted a
connive with Terrance Wilkins, then principal of Red Bank
Middle Instil, to destroy Wilkins' 2004 Acura in the
hope of avoiding paying $9,000 in mileage fees as its sublease out
neared expiration, the prosecutor's office said.
Fire Insurance Fraud
Resources for fire and arson insurance investigators who are investigating the right stuff fraud after a fire ... Arson Fraud Investigation: Insurance. General ...
Arson and insurance fraud column
About arson and insurance fraud. We have very adroit reason to believe people in hurricane ... in helping to mark out arson and other. types of insurance fraud. ...
Twenty-six year old Branden Cervantez of Fresno and 27-year old Clarissa Elisarraraz of Sanger have been arrested and charged with insurance fraud and arson Two Fresno-arena residents accused of insurance fraudTwo Fresno-Area Residents Arrested for Auto Insurance FraudLocal briefs: 2 features arson, fraud charges in car fireall 4 news articles »
Policemen accused Potter and VonRitter of six counts each: two counts of arson and one count of insurance fraud, snitching by deception, criminal conspiracy to DA drops charges in alleged Erie serene arsonall 7 news articles »
Next, there is booming insurance fraud, as the editorial pointed out, due to a convergence of factors involving water, hydrants, and absence of facilities
Arson-affiliated insurance fraud in Detroit soared 40 percent between 2005 and 2008. Only last month, a coalition of insurance companies pledged $1 million to and more »
MCALLEN - A Valley man is fa serious jail time after he's arrested for arson and insurance fraud. Investigators say he tried to get about three million Business owner accused of torching his own businessMcAllen Businessman Accused Of Arsonall 5 advice articles »
contemplate on this. you were foolish enough to think you could swing a loan and buy a half million dollar house. then, oops here came a recession, who could have expected that? desperation leads to misdeed.
House fire results in insurance fraud, arson charges for Pa. men 
House fire results in insurance fraud, arson charges for Pa. men 
House fire results in insurance fraud, arson charges for Pa. men 
Arson-affiliated insurance fraud in Detroit soared 40 percent between 2005 and 2008. Only last month, a coalition of insurance companies pledged $1 million to and more »
