Fire… why was it set?

[4plexowner]

F’d homedebtor reading his insurance policy:

coverage for being stupid and ending up in foreclosure: zero dollars

coverage for fire: 100%

~

makes for a tough morals / ethics question to the home-debtor who has little chance of walking away whole from a horrible housing decision

~

in my experience the universe will deal appropriately (long term) with anyone who takes the “burn it down” approach (short term) to ending their house-debt problem

“Karma is a mean mother-f*ker”

[tothjj]

Don’t most policies cover the cost to rebuild the home? If your place burns down, they pay to have the house rebuilt. They don’t just cut you a check for the value of the home do they? That would make fraud way to easy.
I am on the East Coast but my wife’s parents just lost their house in RB yesterday. They didn’t get anything out either. When they left the fire didn’t look like it was going to get to them. This is crazy.
How do things look this morning? Have the winds died down?

[tothjj]

Don’t most policies cover the cost to rebuild the home? If your place burns down, they pay to have the house rebuilt. They don’t just cut you a check for the value of the home do they? That would make fraud way to easy.
I am on the East Coast but my wife’s parents just lost their house in RB yesterday. They didn’t get anything out either. When they left the fire didn’t look like it was going to get to them. This is crazy.
How do things look this morning? Have the winds died down?

[tothjj]

Don’t most policies cover the cost to rebuild the home? If your place burns down, they pay to have the house rebuilt. They don’t just cut you a check for the value of the home do they? That would make fraud way to easy.
I am on the East Coast but my wife’s parents just lost their house in RB yesterday. They didn’t get anything out either. When they left the fire didn’t look like it was going to get to them. This is crazy.
How do things look this morning? Have the winds died down?

[Anonymous]

No worries if you have USAA insurance. Does anyone know if this will raise insurance premiums in the SD area? I am curious to know if they went up after the Cedar Fire…

[Anonymous]

No worries if you have USAA insurance. Does anyone know if this will raise insurance premiums in the SD area? I am curious to know if they went up after the Cedar Fire…

[Anonymous]

No worries if you have USAA insurance. Does anyone know if this will raise insurance premiums in the SD area? I am curious to know if they went up after the Cedar Fire…

[sandiego]

Dear ignorant posters,

If you have a mortgage, the lender will probably require you to have homeowners insurance. The coverage amount only covers the cost to replace or rebuild the actual structure. They don’t insure the value of the land since it doesn’t burn.

If you have a $500,000 mortgage on a 2500 sf house, you might get a check for $250,000 to replace/rebuild the structure (2500 sf @ $100 psf). You would still be on the hook for mortgage.

You can’t just walk away from it.

[sandiego]

Dear ignorant posters,

If you have a mortgage, the lender will probably require you to have homeowners insurance. The coverage amount only covers the cost to replace or rebuild the actual structure. They don’t insure the value of the land since it doesn’t burn.

If you have a $500,000 mortgage on a 2500 sf house, you might get a check for $250,000 to replace/rebuild the structure (2500 sf @ $100 psf). You would still be on the hook for mortgage.

You can’t just walk away from it.

[sandiego]

Dear ignorant posters,

If you have a mortgage, the lender will probably require you to have homeowners insurance. The coverage amount only covers the cost to replace or rebuild the actual structure. They don’t insure the value of the land since it doesn’t burn.

If you have a $500,000 mortgage on a 2500 sf house, you might get a check for $250,000 to replace/rebuild the structure (2500 sf @ $100 psf). You would still be on the hook for mortgage.

You can’t just walk away from it.

[anxvariety]

I hope the asshats posting above me are engaging in a little of what’s known as “black humor” to assuage their stress.

So just because something happens often it’s always a natural event requiring no thought?

10 fires all need spark, the fact that fires are common is not enough to start a fire.

[anxvariety]

I hope the asshats posting above me are engaging in a little of what’s known as “black humor” to assuage their stress.

So just because something happens often it’s always a natural event requiring no thought?

10 fires all need spark, the fact that fires are common is not enough to start a fire.

[anxvariety]

I hope the asshats posting above me are engaging in a little of what’s known as “black humor” to assuage their stress.

So just because something happens often it’s always a natural event requiring no thought?

10 fires all need spark, the fact that fires are common is not enough to start a fire.

[djrobsd]

If I remember hearing correctly on Sunday afternoon they were saying the cause of the witch fire was a downed powerline. I’d HARDLY call that arson!!!

[djrobsd]

If I remember hearing correctly on Sunday afternoon they were saying the cause of the witch fire was a downed powerline. I’d HARDLY call that arson!!!

[Author]

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