Urban Legends are as funny as horror movies. The more a person exaggerates the story, the funnier it becomes.
I don’t know when I came across one, but every time I come across one, it makes me laugh much. They always had some hilarious relation come-up while narrating the story, like “my friend’s father’s maid’s hair dresser”, and so on; while the mostly used relation is Friend-of-a-friend.
Sometimes it is really irritating when people tend to go till any point to make us believe their story. These stories are so struck to the real environment that some believe them so easily.
In my view, many of these legends are stories from elders to control their children. If you further investigate on any legend, most of them have warnings at the end of their stories.
Many say that some may be really true. Even I too believe that some might be true. But what it is for me if it is true. It is much unlikely that some thing happened to somebody in some place would happen to you too.