I made sure when I bought my house that I picked one where I afford to put 20% down. Mainly I did not want to pay mortgage insurance. Now with all the defaulters (wow 5%!!!) out there, where is their PMI or did they also put down 20%+??
This is the question my hubby keeps asking. What happened to the PMI? So many of these mortgages were done with little or no down payment, I can’t believe they were done with no PMI. The companies couldn’t have been that stupid, especially when they already knew they were dealing with high risk clients.