[Jammie]

Top States for ARM Overexposure

If you check out this article, you'll see that OK did a fantastic job. They have the least amount of ARMs in the nation. Oh yea, and check out the other states in the top 10. We're just one behind you.

You can click on the lower site that shows the lowest in the nation.

[BAGuy]

Congrats OK!

[peggydavis]

That was a really interesting article, Jammie. I noticed South Dakotans have very good credit.

[Jammie]

Yea, I saw that, too. Maybe that's because many of us don't use credit cards. Well, actually we personally have one credit card cause you need one to rent a motel room or travel or for so many things anymore. But they were never popular with the older generation and we were never encouraged to use one.

SD also turned out quite well with very few foreclosures. Maybe the reason we're both very low is because we don't have such over inflated prices to begin with and people can actually afford to buy homes unlike in a few parts of the country. Neither of our states have ever had many insurance rate problems or high HOA fees or things like that.

[peggydavis]

Credit card debt is pretty common here so I guess that is why we have lower scores. Also, people in SD just seem a lot more responsible and honest than people in many parts of the country.

I am glad we never had the hot housing market. I never was too jealous of the hot markets because a hot market is always followed by a cold market, IMO.

I never thought about it, but I guess SD would have lower insurance rates on houses. Part of that is less hail and high winds in SD, but part of that is the responsible and honest people.

[Jammie]

Thank you, Peggy. Those were nice words. Yea, we don't have much of a problem with high insurances here for homes or cars. The only major problem here is the cold. (for me that is) But seriously, I'd say the biggest problem we face is the fact that many people don't have health insurance either because it's unaffordable or because no one will accept them. About 15 years ago, many of the health insurance companies were chased out of the state. Several are starting to come back in now, but not enough for it to be a competitive market here. Luckily, many of our employers offer group health insurance, but that doesn't help the elderly or disabled or a lot of others. But I don't think that's just an issue up here. The situation is probably the same there and in most other places.

[peggydavis]

How did they get chased out of SD?

We have a lot of uninsured people in Oklahoma, one of the highest in the nation. Most small employers just can't give health insurance to their employees. Only the nationwide companies offer health insurance to their employees with lower paying jobs. Sometimes it can be worthwhile to work at a lower paying job like WalMart, just so you can have health insurance.

[Synopsis]

Those South Dakotans are some mighty good people if Jammie is any indication. It's always good to hear from you Jammie!

[Jammie]

Sorry, I got behind.

Thank you, Synopsis.

Peggy, they had spats with one of our past Governors and I don't know all the details, but I guess he told them to get out of the state and they did. Slowly but surely they're coming back now.

Many of our employers offer group health insurance so I guess we're pretty fortunate. Something else I've learned is that there is generally a waiting period to qualify for benies in many areas. But again we're lucky here because benies often start at day one.

[peggydavis]

I'd like to see everyone with some kind of health coverage. I think having state plans to offer health care to small employers and the self-employed is a good idea.

Oklahoma way back when had an insurance commissioner who was rough on the insurance companies. The company I worked for then decided to leave OK, because they thought Florida was a better place to sell homeowner's policies. That was during a quiet period for hurricanes.