While it is true that most of the foreclosures happening in the United States were caused by substandard mortgages, and/or the fact that many people have lost their jobs and can no longer make payments, there is also another reason for the foreclosure rate. Many people have filed for bankruptcy due to medical bills piling up.
This happens when the insurance company does not pay for the cost of care which has been rendered, and the patient simply can't pay the bill and has no choice but to file for bankruptcy, and in doing so they often end up losing their home along with all their other financial problems.
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Even though ObamaCare health care insurance proposal is making its way through Congress, for some people it will already be too late. The number one cause of bankruptcies in the United States is from medical bills that the patient can't pay.
Recently, due to the recession, job losses with the breadwinner in the family have become the number one cause of bankruptcy. It is obvious that our health care system is broken, and that is something that both Republicans and Democrats agree with. It is also something that lawyers, doctors, and even hospitals and HMOs agree with as well.
Even pharmaceutical companies agree that our healthcare system is broken. Apparently, we are trying to get it fixed, but until we see changes in these excessive medical bills, it will continue to be the number one or number two cause of bankruptcies in the United States of America. I hope you will please consider this because it is a serious issue and deserves national attention and perhaps a debate amongst the American people.
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