How many of the home foreclosures would have been avoided if we had passed health care reform earlier?

Obviously, when people are forced into bankruptcy because of health care bills they could never afford to pay, one effect of that is that they lose their homes to foreclosure. If America had passed health care reform say ten years ago, what percentage of current foreclosures could have been avoided? 5%? 10%? 20%?

By | 2013-08-26T11:20:06+00:00 August 26th, 2013|Mortgages Home Loans Interest Rate|8 Comments

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8 Comments

  1. sonofsam August 26, 2013 at 4:02 PM - Reply

    The number of people who lost their homes because of health care cost will not be found on this website .Yes,it is true no one here knows .It is a good question but this problem is so personal that no one here knows how many times it has happened .The people that it happened to knows and mortgage companies know how many homes that they have financed , that have been lost because of an illness that cost the the home owner everything,even the life of their love one .People here might tell you anything,some try to be funny and some are just mean spirited but they don’t know and some may not even care .

  2. happytrails August 26, 2013 at 3:17 PM - Reply

    If you are refering to the large number of foreclosures in the last couple of years, one doesn’t have anything to do with the other. Most of those foreclosures were people who never had any business getting a home loan in the first place. Look at your paystub people. You know if you can afford a mortgage payment, don’t you? There is nothing wrong with renting until your financial situation allows you to afford a house. People in this country are SOOOOOO ignorant about money!

  3. Drixnot August 26, 2013 at 2:20 PM - Reply

    My guess is about 15%

    25% of foreclosures were voluntary (they had negative equity and walked away even though they could afford to pay)

    I think the biggest hit was job loss … but the argument could be made that many job losses were caused by the high price of medical insurance.

  4. Nightwind August 26, 2013 at 2:02 PM - Reply

    You wouldn’t have avoided much at all. The democrat party set up the mortgage melt down by giving people that had no way to pay for these homes into mortgages.
    Clinton revivled the Community Reformation Act and with combined forces of the fed power under Janet Reno and law suits from ACORN and Obama, the banks were pressured into making bad loans. This was the beginning of the set up. The government backed institutions of Freddie Mac and Fannie Mae added tons of worthless paper to thier balance sheets knowing that the government would back it up…not giving a damn that if the word got out that there where millions of worthless paper backed by government, that it would collapse. Today, the Fed is still on the hook to back up this worthless paper, Freddie and Fannie execs walked with millions in bonuses, yet no one protested them, they would rather whine about AIG, but not over the losers that helped the democrats destroy the mortgage market.
    Even after loan modifications and special programs to help losers to stay in thier homes when they couldn’t afford them, 60% right off the top foreclosed, even after getting loan modificiations.
    So do’nt whine about healthcare being a factor. These people were either gaming the system for a home they could’nt possibly pay for or they were largely speculative investors. So cry me a river, very very few lost thier homes that deserved them, was approved for a loan they could afford and weren’t out to steal what they could from the system.

  5. Andrew August 26, 2013 at 1:20 PM - Reply

    probly -50%

    as in there would have been 1.5 times more foreclosures had this bill been passed earlier.

  6. notyou311 August 26, 2013 at 1:09 PM - Reply

    Many. 62% of all bankruptcies in the US were caused by the costs of healthcare.

  7. Do what now August 26, 2013 at 12:26 PM - Reply

    Ya, we all lost our home on my block! Now we get them back after Obama signs the bill tomorrow! Nancy says we will all have our entrepreneurial spirits lifted and the economy will now flourish and the debt will be paid up!

  8. nineteenkilo30hotel August 26, 2013 at 12:16 PM - Reply

    3000%

    There’s an Obama number for you….Hope you like it.

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