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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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Financial Guys? What ever happend to Private Mortgage Insurance in the defaults
Got to thinking, I used to have required PMI until I had something like 20% equity in my home. With all the defaults, didn't PMI kick in for all those mortgage defaults? I never heard anything about it. Was it not required with the "Stated Income", "No Money Down", "Interest-Only loans" of the last five years, which got us into many of these financial problems? Any input from any realtors, bankers, loan officers, escrow agents?
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Hugh
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