Quote:
Originally posted by gldstwmn
MI doesn't make your monthly payment, just covers the investor if the borrower defaults on the mortgage. She'd still lose the house. Sicne I'm self employed, I pay my own life insurance. It's $65 a month and if you don't pay for a month, just like car insurance, they'll cancel you. No one should depend on the government but if you're down and out they shouldn't tell you to go f**k yourself either.
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I agree - most people cannot afford self insurance, but if you can get it even if you have to scrimp and save to do it because you never know.
Also, the govt. (state and fed.) do have programs to help the poor. They are, however complicated and most people would not even know where to go unless someone told them. I just think it ought to be easier. Then again, these programs administer to millions of people, so a system must be in place. I just think the waiting for BOTH public aid and private insurance money (usually at least 90 days from receipt of proof death, which could take the state a month to create) could be lessened somehow.
