Arson is No Solution for Foreclosure Threat

The fact that there is little or no financial gain in setting a home on fire may explain why investigators are seeing so few cases of suspected arson involving houses threatened with foreclosure.

When a home is destroyed by fire, insurance will cover the replacement cost of the home. However, whether the fire is a result of arson or other means, the lender will be named on the insurance settlement check.

In 2007, California recorded 481,392 notices of default. However, while the number of foreclosures has skyrocketed, potential foreclosure-related arsons have not followed suit. Only 14 arsons potentially related to foreclosure were reported in 2007 by the California Department of Insurance.

Local Doctor Accused Of Insurance Fraud

Prosecutors said a doctor used vaccines intended for the needy, then billed insurance companies.

Tuesday a Saginaw County judge will hear the evidence against Dr. Yuh-Lin Hung in the insurance fraud case.

The prosecution said Hung used vaccines meant for the underinsured through a federally funded program in his private practice – then allegedly billed insurance companies for the service.

Torch Your Car? Big Mistake

From higher gas prices to mortgage payments ballooning through the roof, consumers are under tremendous financial pressure. To ease that pressure some people have set their vehicles on fire and then filed a claim with the insurance company.

The California Department of Insurance has launched an investigation of two cases in the Northern California area.

"You will get caught!" said John Standish, a bureau chief for the department's fraud division. He said people who are upside down in their car loans, or owe more than what the car is worth, got into the financial predicament on their own.

Recent PI Raids on Counterfeiters Raise Concerns About Fakes

In bright orange letters, the sign in the window says "Yes We're Open."

But take a look at the black gate and lock that stretches across the front of Shoes N More at 2903 W. Western Ave., and you'll see a different story.