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Burning down the house....

By
Mortgage and Lending with Your Financial Coach

Believe it or not...this is a true story. A couple was puting their house up for sale due to a divorce. She left with the kids to live elsewhere. He moved the girlfreind in while the house was up for sale. She was using the insurance money...home, car, and life insurance to support a gambling habit. He didn't sell it for 3 months, no looks, no offers. He burned it down trying to make it look like and accident. Neither one could refi and pay off the other.

PAYBACKS!----the court ruled that she would get 80% of the profits of the sale due to her having the down payment...she gets nothing...he may get 5 to 10 depending on the attempted insurance fraud....