Many of these torched homes are in foreclosure, and they are being burnt down, in some instances, the day before a foreclosure sale. Insurance companies and police forces understand the nature of their intention, and quote that they will get caught. To the unwittingly distressed homeowner, they assume that if they burn down the house, they will be relieved of the debt. One woman in South Carolina, actually burned down her home, with her husband and kids in it. Luckily they were able to escape, however it goes to show the desperate lengths people will go to , to avoid foreclosure.

Simply picking up the phone and calling your lender is not an option for these people, a grave mistake. How hard is it to try and come to a resolution with your lender? It benefits no one that you burn your house to the ground. It actually poses more of a danger for your neighbors, and people around you. Another trend starting to pop up is people abandoning their large SUV's in the desert, or driving them into a lake, and ultimately torching their vehicles. They don't want to pay the high price of gas anymore, and don't want the large truck payment, so they are just dumping their vehicles. In my opinion, this terrible to do.

Insurance companies, just like lenders, are always assessing risk every single day, and have invested millions in loss mitigation, and claims adjusters to prevent bogus scenarios like this from ever happening.

In closing, plan accordingly for the worst of times by budgeting your money, and seeking a solution to your problem months ahead of time. If your savings is dwindling, and you find yourself out of a job, the first thing you need to do is call your lender for them to rework your loan, so you can work out a payment plan. Remember, the squeaky wheel deserves the quickest attention, because before you know it, all 4 wheels are off, and your heading downhill with no way to stop! Hope for the best, and plan for the worst, and you will be able to get through these lean times.

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