To: HereInTheHeartland
Oh, maybe you can answer a question. How much are these lenders really going to be hurt when, I assume, that most, if not all of these mortgages have to carry PMI?
33 posted on
12/08/2007 6:16:42 AM PST by
raybbr
(You think it's bad now - wait till the anchor babies start to vote.)
To: raybbr
Oh, maybe you can answer a question. How much are these lenders really going to be hurt when, I assume, that most, if not all of these mortgages have to carry PMI? I think you assume wrong. People with piggy back loans don't pay PMI and my understanding is that subprime borrowers don't pay PMI either. That is why there is a problem.
42 posted on
12/08/2007 6:58:08 AM PST by
EVO X
To: raybbr
” I assume, that most, if not all of these mortgages have to carry PMI?”
The PMI helps to blunt the cost of a foreclosure. PMI companies are in trouble due to the large amount of claims; I assume this will lead to higher PMI rates but I don’t know that for sure. As far as I know the PMI companies are still ok, but they have been hit really hard.
66 posted on
12/08/2007 11:12:27 AM PST by
HereInTheHeartland
("We have to drain the swamp" George Bush, September 2001)
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