MudHog wrote:jacksbuddy,
the insurances that your bringing up could still hold their name. Your insuring something that is being financed. Why wouldn't it make sense to carry insurance on something that is financed? You drive a new vehicle off the lot and get in a wreck on the way home, vehicle is totalled. Now you have to pay a note on something you don't have and then have to go buy another vehicle too. You buy a new home and week later it catches fire, tornado or hurricane comes through and is destroyed. Thats my way of thinking.
You are like me, a honorable person. However, we both know of a LOT of people in the lower socioecomic levels that would be willing to accept the risk of loss rather than pay insurance. If they have a catastrophic loss, then they will simply walk away from the debt. In fact, we see it every day. Yes, car insurance is the law of the land, but how many people still don't carry insurance until they get caught?
MudHog wrote: However, there are others that don't need it and will milk it.
And like everything else with the government that gets 'milked', the abusers of the system will prosper from it and we'll all have to pay for it because nobody seems to care about the oversight.
MudHog wrote:There also student loan clauses in this "healthcare reform", like beginning in 2014, borrowers will be able to use up 10% max of their monthly income to repay student loans, instead of the current 15% max. Now they are having to take longer to repay AND pay more interest in the long run.
In my opinion, this will not work. This limitation will more than likely cause negative amortization of student loans due to the facts that interest rates will increase, educational costs continue to rise faster than the rate of inflation, and salaries have stagnated in receint years for new college graduates.
Sorry to sound like I'm ranting, but thanks for your input.
Nobody owes you anything.