Godlike Productions - Conspiracy Forum
Users Online Now: 2,464 (Who's On?)Visitors Today: 867,030
Pageviews Today: 1,218,456Threads Today: 270Posts Today: 5,787
12:20 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime

 
Omega
Offer Upgrade

User ID: 376763
United States
07/03/2008 07:02 AM
Report Abusive Post
Report Copyright Violation
Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Subprime eh??? Just wait till alt-a unwinds-you ain't seen nuthin' yet.




Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime

By Kathleen M. Howley

July 3 (Bloomberg) -- At 10:40 p.m. on April 27, a blaze at the beige Victorian house at 19 Nye St. lit up a neighborhood littered with boarded-up homes on the north side of New Bedford, Massachusetts. It left charred wood and melted vinyl siding on the three-story structure.

The house had been abandoned after the owner defaulted on a $240,000 home loan from GreenPoint Mortgage Funding, a Novato, California lender that shut down in August, 2007. The fire was one of four suspicious blazes in foreclosed properties that month in the southern Massachusetts city. All are under investigation.

The biggest surge of mortgage defaults in seven decades coincides with an increase in blazes in foreclosed properties led by states with the most repossessed homes, according to fire safety officials in Nevada, Massachusetts and Ohio.

``The more empty houses we have, the more fires we are going to see,'' said James Wright, chief of the Nevada State Fire Marshal Division in Carson City, the state's capital. ``It's particularly dangerous for firefighters, because they don't know what condition these buildings are in or what they might find in them.''

National arson statistics for 2007, due in September or October, probably will show a significant increase as foreclosures climbed toward an all-time high in 2008's first-quarter, said James Quiggle, a spokesman for the Coalition Against Insurance Fraud in Washington.

Arsons Follow Foreclosures

``Home arsons follow foreclosure trends, with a lag,'' Quiggle said, pointing to an increase after the last housing slump when the number of blazes reached 116,600 in 1992 from 111,900 in 1990. ``We're facing a potential spike in arson like we've never seen before.''

The most recent data is from 2006, when the median price of a U.S. home reached an all-time high of $221,900, as measured by the National Association of Realtors. There were 31,000 arsons that year, compared with 31,500 in 2005, according to the U.S. Fire Administration in Emmitsburg, Maryland.

Last year, fires in vacant Nevada buildings increased 4 percent from a year earlier, said Wright, the fire marshal. That number may grow, he said. The state had the worst foreclosure rate in the U.S. during the first quarter, with one filing for every 54 households, according to data compiled by RealtyTrac Inc. The national rate was one filing per 194 households, analysts at the Irvine, California company said.

Empty Buildings

In Ohio, where one of every 161 households had a foreclosure filing during the first quarter, the number of blazes in vacant buildings rose 18 percent in 2006, according to the latest figures compiled by the state's Division of State Fire Marshal in Reynoldsburg. Damages climbed 52 percent to $22.7 million from a year earlier in the state where home sales began tumbling in 2004's second half, a year before the national decline began.

The value of homes owned by U.S. banks more than doubled to $8.6 billion in the first quarter of 2008 from $3.59 billion a year earlier as lenders repossessed homes in default, data compiled by Federal Deposit Insurance Corp. in Washington show.

``Empty buildings have more fires and more serious fires than occupied buildings,'' said Steven Westermann, president of the International Association of Fire Chiefs in Fairfax, Virginia. ``There's no one around to sound an alarm.''

Fringes of Society

Nationally, there were 396,000 home fires of all types that were reported in 2006, the highest in 10 years, according to the latest data available from the National Fire Protection Association in Quincy, Massachusetts. They caused a record $6.83 billion of damage.

Almost two-thirds of fires that occur in unsecured vacant buildings are intentionally set, said John Hall, head of research at the National Fire Protection Association. The rate drops to 32 percent in empty buildings protected with locks or boarded windows and 7 percent in occupied homes, he said.

In New Bedford, where the Nye Street home was boarded up, the city has posted signs on the charred building that read: ``Reward of up to $5,000 if you know who did this.'' So far, there are no leads.

The house has been empty since the subprime mortgage defaulted in August 2007, the same month the lender, GreenPoint Mortgage, went out of business after selling the loan to investors in a mortgage-backed security called BS ABS 2004-AC5 2300, according to documents at the Bristol County Registry of Deeds.

``For every foreclosure, you have more empty homes and more people who may become homeless,'' said Hall, of the National Fire Protection Association. ``These properties are on the fringe of society's attention.''

The growing number of vacant buildings, however, has not escaped the attention of firefighting officials. Flint, Michigan, put out a June 2007 study that called vacant-building fires ``a dangerous exercise in futility.'' Blazes in empty structures such as foreclosed homes account for 40 percent of the city's fires and 62 percent of its firefighter injuries, Fire Captain Andy Graves said in the report.

Nationally, there are 3.7 firefighter injuries per 100 blazes in vacant buildings, compared with 1.9 injuries per 100 fires overall, Graves said in the report.

Injured Firefighters

``We lose a lot of firefighters in vacant structures,'' said Westermann of the International Association of Fire Chiefs.

Firefighter Mark Reed knows how dangerous a vacant, foreclosed property can be. He was critically injured battling a June 2007 fire in Buffalo, New York, set by arsonists in a foreclosed home on the city's east side. Bricks from the chimney crushed Reed, who was then 36. His mangled right leg later was amputated.

``Every vacant home that's allowed to deteriorate becomes a danger to firefighters because they can't just sit back and say `Let it burn,''' said Barbara Reed, Mark's mother. Her only child lost his senses of smell and taste as a result of his brain injuries, and still goes to physical therapy twice a week, she said.

Foreclosures in Buffalo

When the chimney fell on Reed, he was standing between the burning building and the home next to it, trying to protect lives and property, his mother said. The other members of Reed's company, Engine 31, dug him out from under the bricks, she said.

``Even if the bank doesn't care enough to maintain a home and keep it from being a hazard, firefighters still have to answer the call to go and put out any fires that might come from their negligence,'' the retired fourth-grade teacher said.

Buffalo had 677 foreclosure filings in the first quarter, including notices of default and auctions, RealtyTrac reported. Since last year's accident, firefighters have begun inspecting and marking the city's 10,000 vacant houses with ``their own form of graffiti,'' said Reed. They use red spray paint on the doors or front walls of the buildings to cite potential dangers, she said.

``Structurally, we're talking about a massive amount of heavy plaster, bricks, and glass in every one of these houses,'' said Reed, 61. ``Buffalo is not the only city where firefighters are putting their lives on the line to take care of these homes that no one wants.''

To contact the reporter on this story: Kathleen M. Howley in Boston at kmhowley@bloomberg.net.
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Omega (OP)

User ID: 376763
United States
07/03/2008 07:08 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Damn that was quick-who's fast on the switch-oh I see, it's the main man. Good Morning Trinity.

Today could be a key day. If Europe raises 11,200 on the dow (key support) will go bye bye-quickly.

I gots my coffee and am ready for the fireworks,lol....
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Enaid

User ID: 310721
United States
07/03/2008 07:24 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Good morning Omega. Just wanted to say thanks for all the important information you share with us.
Personal responsibility - try it sometime. Quit blaming others for your bad choices. Consequences happen.

:enaid11:
BLACKOUT DRIVE
User ID: 410846
United States
07/03/2008 07:27 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
I wonder if anyone will run this story besides GLP! = )
Omega (OP)

User ID: 376763
United States
07/03/2008 07:29 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Good morning Omega. Just wanted to say thanks for all the important information you share with us.
 Quoting: Enaid



Thank you, merely passing along the info so peoples can get ready.

I wonder if they'll catch a bank or note holder torching houses,lol. That would be a gas......
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Enaid

User ID: 310721
United States
07/03/2008 07:33 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Good morning Omega. Just wanted to say thanks for all the important information you share with us.



Thank you, merely passing along the info so peoples can get ready.

I wonder if they'll catch a bank or note holder torching houses,lol. That would be a gas......
 Quoting: Omega



I betcha more than a couple banks are removing problems via flame.
Personal responsibility - try it sometime. Quit blaming others for your bad choices. Consequences happen.

:enaid11:
383623

User ID: 383623
United States
07/03/2008 07:53 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
real bad up here in ne. ppl going bankrupt soon as they get the $1000 to bail out. they say fuck the mortgage because along with everything else they dread to think what it will cost to heat the bastard this year :shakes head sadly:
Highway to Hell
383623

User ID: 383623
United States
07/03/2008 08:25 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
ok kids cnbc jobs report in a few. i know what they say won't suprise any of us here hiding
Highway to Hell
Anonymous Coward
User ID: 395520
United States
07/03/2008 08:54 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
major doom in the markets today methinks...ECB raised rates, jobless claims up..what's in your wallet??? muhahahahahah
Anonymous Coward
User ID: 317540
United States
07/03/2008 08:55 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
In the insurance biz, its called jewish lightning.....
ProvenPatriot
User ID: 431830
United States
07/03/2008 09:44 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
In the insurance biz, its called jewish lightning.....
 Quoting: Anonymous Coward 317540


I was gonna get out the ol' flame torch, but I'll be damned...

1. Jewish Lightning

To set your house or business on fire on purpose to get the insurance money.
"Hey, what happened to the bar?"

"The owner wasn't doing so well so it got struck by Jewish Lightning."


Pretty shitty term, but true!


HELLUVA POST, OMEGA - BTW.
Anonymous Coward
User ID: 431830
United States
07/03/2008 09:45 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
In the insurance biz, its called jewish lightning.....


I was gonna get out the ol' flame torch, but I'll be damned...

1. Jewish Lightning

To set your house or business on fire on purpose to get the insurance money.
"Hey, what happened to the bar?"

"The owner wasn't doing so well so it got struck by Jewish Lightning."


Pretty shitty term, but true!


HELLUVA POST, OMEGA - BTW.
 Quoting: ProvenPatriot 431830


edit - Link: [link to www.urbandictionary.com]

Sorry, all.
Evil Twin

User ID: 462274
United States
07/03/2008 09:47 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
I wonder if they'll catch a bank or note holder torching houses,lol. That would be a gas......
 Quoting: Omega

That would not surprise me in the least! LOL!
911

User ID: 327843
United States
07/03/2008 11:07 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
great info OP, keep eye on the ball...wont be long now ...when we all will be saying burn, burn baby burn!!
Anonymous Coward
User ID: 462059
United States
07/03/2008 11:09 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Anonymous Coward
User ID: 362931
United States
07/03/2008 11:12 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Well, at least they are still selling the pulic little things they can light on fire and shoot into the sky. I am sure fireworks are cheaper than gas right now LOL
Anonymous Coward
User ID: 456961
United States
07/03/2008 12:45 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Damn that was quick-who's fast on the switch-oh I see, it's the main man. Good Morning Trinity.

Today could be a key day. If Europe raises 11,200 on the dow (key support) will go bye bye-quickly.

I gots my coffee and am ready for the fireworks,lol....
 Quoting: Omega


Europe raised, but the market is still going up.

How quickly are you talking, today or do you think some time after the 4th?

Thanks.
Anonymous Coward
User ID: 455596
Italy
07/03/2008 01:13 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Anonymous Coward
User ID: 455596
Italy
07/03/2008 01:16 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Anonymous Coward
User ID: 450099
United States
07/03/2008 03:01 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Just this morning I was paid a call by a private investigator working for the insurance company who covered the now bankrupt Novastar Mortgage asking about my adjustable rate mortgage on my home - which is now in foreclosure.....He picked up on two discrepancies in my income. They'd put a yearly stipend I get from a volunteer organization as a monthly income and the yearly income was 3 grand higher than I said it was back then......
Anonymous Coward
User ID: 394778
United States
07/03/2008 07:14 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Some are undoubtedly being set fire by the previous owners. And some are LIKELY being set fire by the new owners -- the banks. They've got too many homes right now, more than they can sell. So why not burn them down and make the insurance companies hand them a check instead? It sure beats fixing them up and trying to sell them in this over-saturated market.
Anonymous Coward
User ID: 357912
United States
07/03/2008 08:30 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Back in the early 80's my dad used to point out the many burned down houses and say "Insurance burnt that house down." It was a big thing back then that when you couldn't pay your mortgage anymore and there were no jobs of any kind that you just torched the place, took the insurance money and moved on. A large percentage of southern West Virginia started over in NC and other states like that.

It's kinda cool to see it coming back. I have always wanted the rest of the nation to have to live like I had to growing up. I want to see them lining up for jobs at McDonald's when the only way to get hired is to personally know a manager. I want to see 5,000 people show up for 10 jobs and everyone fills out an application. I want to see people making apple butter, hoeing gardens, digging ginseng, raising chickens and repairing their shoes and clothes instead of buying new ones like it's nothing.

In short, you people completely missed what we had to live through in 81-85 in WV. It's time for you to enjoy being poor like we did. Misery likes company and it's been lonely too long.
picesnator

User ID: 318318
United States
07/03/2008 08:34 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
saw this one coming.........
Anonymous Coward
User ID: 452010
United States
07/03/2008 08:41 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Sure hope no-one aims any fireworks toward any houses.
Anonymous Coward
User ID: 400833
United States
07/03/2008 09:46 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
HEY PEOPLE!!

IF you've gone through a foreclosure or default on a loan and some "investigator" starts snooping around and asking questions about the original loan - they may be investigating the original lender for fraud. However whether the fraud was theirs (to make the loan to you) or yours (to obtain the loan) is anyone's guess! Be careful about being helpful to these bastards or even talking to them. Anything you tell them will be checked, double checked, and if they can file charges of criminal wrong doing against the lender or against you, they will do so.

If someone comes around and wants to "investigate" your original loan that you defaulted on - unless and until they have a court order or the authority of a valid FBI badge, tell them to fuck off and die! But above all, do NOT talk to them. Your words and deeds will be interpreted in the worst possible light and you'll soon be charged with something or other even if you're perfectly innocent.

If they do show up with that court order or a badge,, then do not talk to them unless and until you have a lawyer with you and one who can and will defend you. There is a current WITCH HUNT going on to pin the blame for the subprime meltdown on someone. They aren't interested in facts or accuracy. Just pinning "blame" on someone. It could well be you. Don't talk to the private eye or 'mortgage investigators". These fuckers could put you in jail for something you never knew about!




Just this morning I was paid a call by a private investigator working for the insurance company who covered the now bankrupt Novastar Mortgage asking about my adjustable rate mortgage on my home - which is now in foreclosure.....He picked up on two discrepancies in my income. They'd put a yearly stipend I get from a volunteer organization as a monthly income and the yearly income was 3 grand higher than I said it was back then......
 Quoting: Anonymous Coward 450099
Anonymous Coward
User ID: 462646
United States
07/03/2008 09:57 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
HEY PEOPLE!!

IF you've gone through a foreclosure or default on a loan and some "investigator" starts snooping around and asking questions about the original loan - they may be investigating the original lender for fraud. However whether the fraud was theirs (to make the loan to you) or yours (to obtain the loan) is anyone's guess! Be careful about being helpful to these bastards or even talking to them. Anything you tell them will be checked, double checked, and if they can file charges of criminal wrong doing against the lender or against you, they will do so.

If someone comes around and wants to "investigate" your original loan that you defaulted on - unless and until they have a court order or the authority of a valid FBI badge, tell them to fuck off and die! But above all, do NOT talk to them. Your words and deeds will be interpreted in the worst possible light and you'll soon be charged with something or other even if you're perfectly innocent.

If they do show up with that court order or a badge,, then do not talk to them unless and until you have a lawyer with you and one who can and will defend you. There is a current WITCH HUNT going on to pin the blame for the subprime meltdown on someone. They aren't interested in facts or accuracy. Just pinning "blame" on someone. It could well be you. Don't talk to the private eye or 'mortgage investigators". These fuckers could put you in jail for something you never knew about!

Good point - and I thought about that. But I think that he's after the lender 'cuz this was a P.I. working for the insurance of the lender so if the lender was inethical, they will be pissed. And he told me point blank that my file was one of amny being sudited.

If they decide to pin something on me I'll say I never talked to no one. It's his word against mine. I'll cooperate to get the dirt bags who "loaned" us nothing but debt (a.k.a. fiat money), but if they think they'll take me with them, then I fight back - and I won't forget your tips about lawyer and court orders - and finding out just WHO "owns" the original note to my house 'cuz it's changed hands many times (it never would have come to this if I'd known about calling in the note when it went thru foreclosure last summer).

Thanks for the tip, AC.




Just this morning I was paid a call by a private investigator working for the insurance company who covered the now bankrupt Novastar Mortgage asking about my adjustable rate mortgage on my home - which is now in foreclosure.....He picked up on two discrepancies in my income. They'd put a yearly stipend I get from a volunteer organization as a monthly income and the yearly income was 3 grand higher than I said it was back then......

 Quoting: Anonymous Coward 400833
conspiracy slave
User ID: 437387
Canada
07/03/2008 11:44 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Like how the media con plays the firefighter sympathy card, intending for all the slaves to slave mentality hate the arsonist - when the banks set everyone up for bankruptcy.

The bankers foreign market interests didn't mind blowing fire fighters up at 911.
relative pain
User ID: 437387
Canada
07/03/2008 11:45 PM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Those foreign market interests love a bust and boom economy.
Anonymous Coward
User ID: 424777
United States
07/04/2008 12:01 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
saw this one coming.........
 Quoting: picesnator



I'm totally surprised by the low level of arson. I thought it would have been huge, and I heard insurers were also afraid.
Anonymous Coward
User ID: 455596
Italy
07/04/2008 12:05 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
Back in the early 80's my dad used to point out the many burned down ...

It's kinda cool to see it coming back.
 Quoting: Anonymous Coward 357912


you should be a very wise, aren't you?
Anonymous Coward
User ID: 443468
United States
07/04/2008 12:24 AM
Report Abusive Post
Report Copyright Violation
Re: Arson Surges Across U.S. for Foreclosed Homes Lost to Subprime
So how can I let the banks know I am willing to do these jobs for them? How much should I ask in payment per successful burn? Or will they just use me for one burn and not repeat business with me? That would be fine since there are so many banks and so many houses. So how should I approach them?

News