Can't Pay Your Mortgage? Trash Your House and Leave
As housing markets tank, "trash-outs" are on the rise, leaving owners, lenders and banks fighting over who should pay the clean-up bill.
On the lookout for disturbing trends? Here's one for your pile: According to a recent article in Fortune, there has been a noticeable increase in not just fraud but arson that has kept pace with the housing depression.
Professionals in the insurance and lending industry are bracing themselves for all manner of similar situations, as homeowners either trash, or simply leave their trash lying around their houses, often taking off without even claiming their furniture. This is already a dirty problem in the housing business, with owners, lenders and banks having to figure out a way to stick each other with the check when tenants destroy their property on their way out the door. Woe is the person left behind to clean up the chaos.