Increase in insurance

[Tom D]

Mexico city, population of 25 million, is sinking.

 

[Charles West]

Mexico city, population of 25 million, is sinking.

You can't get a mortgage loan if you're not a citizen of Mexico; Americans are cash on the barrelhead only.

 

[Tom D]

The way my car insurance has been going up, average person won't be able to afford a car & insurance payment together.

Forget mexico, american with money. Wife gets phone call asking for ransom to have husband back. That's a roll of the dice.

 

[Zoe]

I don't know how many people in Florida were self insured when they lost their house in that hurricane/flood. I guess they had to apply for some relief with FEMA or the State or somebody. They didn't have a mortgage on the house if they were self insured.

A Bank will even force write insurance on a car or house if they have a lien on the property. They will just add the insurance premium to the loan.

The insurance the banks force write is way more expensive insurance than what you can buy on the streets. Plus you have to pay interest on the premium they loan you.

The bank gets kickbacks from whoever they use to force write insurance on the property the bank has a lien on.

 

[Zoe]

I would not doubt some of those people that lost their homes in CA were self insured. Very wealthy people. Many were probably loaning money or donating it instead of borrowing it.

It still had to hurt because many lost things that money can't replace.

It is sad.

When it gets to that level, money don't mean much to you when you lost something more important to you personally than the money.

Many of them are probably going to counseling. I would if I were them.