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July 11, 2006
Piggyback Mortgages - One of the 3 Alternatives to Avoid Private Mortgage Insurance
If you are buying a home and not forking out a down payment of at least 20%, the chances are you will be asked to pay for the Private Mortgage Insurance (PMI). The lender wants to protect himself against the borrower defaulting on the loan. But the cost of such a guarantee, PMI, is paid monthly by the borrower and not the lender. Since the human mind is genetically wired to "get everything for nothing," a solution had to be found to detour around the pesky
From Piggyback Mortgages - One of the 3 Alternatives to Avoid Private Mortgage Insurance
Posted by Guido at July 11, 2006 04:13 PM
