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Folks are burning down their foreclosed homes.

WASHINGTON – Some cash-strapped homeowners, facing financial ruin from foreclosure, are torching their homes and filing bogus insurance claims in frantic attempts to avoid eviction, causing fears that arson might become more frequent as woes continue.
“The warning signs for desperate homeowners are right on our doorstep,” said James Quiggle, spokesman for the Council Against Insurance Fraud. “They’re looking for any shot of quick cash to bail themselves out.”
Read more.

Are hospitals more interested in your credit record than your medical record?

A credit report used to be something that was requested only when a person was seeking to purchase a house, a car or another large item.
But now an increasing number of hospitals are examining prospective patients’ credit ratings and other financial information, The Wall Street Journal reported this week. Some hospitals are simply mining patients’ available lines of credit and payment histories, while other hospitals are hiring companies that try to predict whether or not a patient is able, or likely, to pay a hospital bill.
Read more.

‘Student Loan Crisis’

As three more large student-loan providers pull out of the government-subsidized loan program, the National Association of Student Financial Aid Administrators is urging the Department of Education to institute three critical “safety nets” to ensure “all federal loans remain accessible to all eligible students.”
A letter from Dr. Philip Day, NASFAA president, this week to U.S. Education Secretary Margaret Spellings comes on the heels of a request by 31 members of Congress for the Federal Reserve to intervene in what analysts are calling a student loans crisis. Read more..