Re: Philosophy Bro explains John Galt/Rand

On Fri, 28 Jan 2011 17:51:49 -0800, Miss Elaine Eos wrote:

On 2011-01-28 16:47:20 -0800, "Alex W." <ingilt@xxxxxxxxxxx> said:
Mortgage insurance ought to be mandatory, IMO.

Hopefully, you mean that the bank should feel free to carry insurance
for any loan that has them worried whether or not they're going to be
paid back, and not that they should require the borrower to take out
insurance as a condition of the loan...?!

Of course, if a few banks made that a requirement, then there's an
entrepreneurial opportunity for someone to offer the same product at a
lower cost.

No, I think it should be mandatory. No insurance, no loan.
Economies of scale should signally reduce the premiums, as would
the competitive effect of an instant billion-dollar market. Who
eventually ends up paying the premium -- bank, homeowner, or a
split bill -- can be a matter for negotiation.



Cripes, it's bad enough they charge $450 for "paperwork collation"...!

Misc "how do *I* get into the collating racket?!?!"

Easy: do it yourself.
I increased my purchasing budget for Cubans by a full box after I
switched from the "stuff it all in empty cigar boxes" method of
collecting receipts and paperwork to the "file everything
properly and in chronological order" method and saved myself
several hundreds in fees from the tax advisor.


.

Relevant Pages

  • Re: Philosophy Bro explains John Galt/Rand
    ... you mean that the bank should feel free to carry insurance ... No insurance, no loan. ... Well, again, you're trying to dictate good business practice. ...
    (alt.smokers.cigars)
  • Re: Philosophy Bro explains John Galt/Rand
    ... you mean that the bank should feel free to carry insurance ... Every loan has insurnce, either FannieMae, FreddieMac, VA, or conventional. ... The insurnace is paid for my the mortgagee and it's covered, in most cases, by the tax payer ...
    (alt.smokers.cigars)
  • Re: Philosophy Bro explains John Galt/Rand
    ... No insurance, no loan. ... Who eventually ends up paying the premium -- bank, homeowner, or a split bill -- can be a matter for negotiation. ... Heck, if the borrower is concerned he might go unemployed/disabled/whatever and be foreclosed, he should feel free to take insurance, too. ...
    (alt.smokers.cigars)
  • Re: OT - Raging Calif. fires burn scores of homes
    ... Walk into your bank and ask the loan officer for a 500K loan. ... So the insurance may not be enough to cover ... rebuilding, but is almost sure to cover more than the amount owed. ...
    (rec.crafts.metalworking)
  • Banks set to push home loans
    ... he said the bank believed its innovative products would also help ... An increasingly popular home loan product is Home Flexi, ... CONGLOMERATE Boustead Holdings Bhd is offering RM5.50 per share under its ... voluntary takeover for Boustead Properties Bhd, which is 31 per cent above ...
    (soc.culture.malaysia)