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Money Talk > Credit & Loans

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augfan77
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mortgage insurance  Reply with quote  

can i have some details on mortgage protection insurance?
Post Sat Mar 18, 2006 9:25 am
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coaster
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Are you talking about what's commonly called "PMI" that the lender requires for downpayments of less than 20%? That's insurance that protects the lender from your default. It doesn't do a thing for you. One reason I think it's a good idea to put down more than 20% if you can, so you avoid paying for something that benefits someone else.

~Tim~
Post Sat Mar 18, 2006 1:46 pm
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augfan77
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Cash: $ 4.90

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Joined: 07 Mar 2006

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thanks coaster.
Post Mon Mar 20, 2006 2:53 am
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