Freightrain

Have you seen the reports of people in Florida where whole allotments were built on old swamp land.  Now, 5 yrs later they find their property starting to settle and fall into the abyss(sink hole).  Nothing they can do or say.  They'll loose everything and no insurance to cover it.  I'll bet there will be a bunch of law suits over it.

In the 50's it was a common ploy to create phony brochures showing some tropical paradise,and elderly retirees would invest their life savings and find the land they bought was on the edge of the everglades,without the clubhouse and golf course they were promised! There were more of these scams than you could count. Around 2008 and before if you had a sinkhole your homeowners policy would have you get a couple of estimates and pay you for the repair. Sinkhole repairs start at 100grand and go up!Well,a lot of people,especially those who were " upside down on their mortgage would just take the money and run! Leaving the bank with a house nobody would buy! The banks and insurance companies got fed up and had their "bought and paid for" legislators pass a bill where there is a10 percent deductible on sinkhole repair money and the money goes to the contractor or the bank.The bill was slipped thru quietly,probably " on the back" of another bill! It really puts a screwing on honest people who would repair the damage!