To: Freedom_Is_Not_Free
I have a simple question to anyone here that understands this business- what happened to PMI (Private Mortgage Insurance)? This insurance was (is?) required by all home buyers of conventional mortgages, and it’s purpose is to indemnify LENDERS against defaults, as I understand it. Where are they? What have all these homeowners been paying for? Why isn’t this mess insured?
13 posted on
09/29/2008 10:47:40 PM PDT by
matthew fuller
(Palin/McCain 08- So let it be written, So let it be done!)
To: matthew fuller
I don’t think PMI is required for a conventional mortgage if the downpayment is 20% or more.
18 posted on
09/29/2008 10:55:15 PM PDT by
Marak
To: matthew fuller
Good discussion on PMI here:
Private Mortgage Insurance. The bottom line is that WE are the insurers of last resort and our chickeeeeeens have come home ... to roooooooost.
29 posted on
09/30/2008 5:15:57 AM PDT by
NonValueAdded
(don't worry, they only want to take water out of the other guy's side of the bucket.)
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