Home Insurers Bracing for Foreclosure-Avoidance Fraud

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 foreclosures on the homes they bought that are now worth less than they owe on them.

Falling home values and tighter lending rules are making it difficult for many people to refinance their way out of trouble, get loan work outs, or otherwise escape foreclosure.

Homeowners who resort to such tactics face felony charges including arson, conspiracy and fraud. The charges could be much greater if someone is harmed. If the charges stick, homeowners who set their homes ablaze likely will be jailed.

Read the full article on the
Homes101 website.

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Before you buy that foreclosure or short-sale condominium in Florida, you need to know what else is involved other than just an attractively low price. You can learn all the basic information you need to understand before you proceed beyond the point of just knowing the unit is available at an unusually attractive price point. Read the full article and then call one of the Best Realtors in Florida for assistance with your purchase.