Once upon a time, a man bought a Southern California house in 2001 on a sub-prime mortgage that he was barely able to qualify for. In case of a foreclosure, the guy kept all his valuables out of the house, all items he cared about he put in a separate storage facility where he worked.
In 2004, that house DOUBLED in value. The house went from 0,000 to 1.4 MILLION dollars but he couldn’t cash in on it till the house was sold.
A real jerk came along and BURNT his house down. He had a decent homeowners Insurance policy, and they gave him cash proceeds at nearly 1.2 Million Dollars because that same year his assessed premium went up. Nobody was injured, no valuables lost.
He then paid 100% of his outstanding mortgage debt and moved into tiny wooden cabin just for the fun of it. 4 years later, EVERYBODY’s home in his neighborhood was in foreclosure and the properties can’t even get sold for 0,000…..
The evil house burner saved this man HUNDREDS of THOUSANDS of DOLLARS, so much so that this guy is going to testify in favor of the guy who burnt down his house, in a criminal case.
Therefore, is it sometimes GOOD to burn down someone’s house?
and it gets even better than that. The guy who set fire to the house created JOBS for construction workers for a new potential buyer
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