Population Statistic: Read. React. Repeat.
Monday, April 21, 2021

This shouldn’t be too surprising: In order to get out from under in the face of foreclosures/repossessions, people are putting the torch to their no-longer-affordable houses and cars:

Last week, a Sacramento-area couple were arrested on allegations that they burned their Jeep and drove their Nissan pickup into a river, then filed fraudulent insurance claims. According to investigators, the wife admitted she was trying to escape her $600 monthly car payment.

On April 1, police arrested a woman in Easley, S.C., accused of deliberately setting fire to her home just three days after the bank hung a foreclosure notice on her door. And in January, an Omaha man was arrested on suspicion of arranging to have his three-bedroom house burned down as he was facing foreclosure.

So this sort of turns the traditional rite of passage in burning a paid-off mortgage on its head. Although I’d argue it’s just as a much a rite of passage, albeit not as satisfying of one.

by Costa Tsiokos, Mon 04/21/2008 09:43:02 AM
Category: Business, Society
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