If we were paying PMI insurance and we decide to quit paying and walk away.;? - fha secured lenders
Held by the lender who come after us? We refinanced seven months ago and now I want the house, and it is a loan insured by the FHA.
Monday, January 4, 2010
Fha Secured Lenders If We Were Paying PMI Insurance And We Decide To Quit Paying And Walk Away.;?
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4 comments:
PMI protects the lender. It is designed to protect borrowers.
In fact, the FHA has a slightly different product. It's called PMI (private mortgage insurance) is called MIP (Mortgage Insurance Premium) is still designed to protect the lender not you.
Be sure to discuss with the lender to see what his sell to or holding themselves at home, you will regret it.
PMI protects the lender. It is designed to protect borrowers.
In fact, the FHA has a slightly different product. It's called PMI (private mortgage insurance) is called MIP (Mortgage Insurance Premium) is still designed to protect the lender not you.
Be sure to discuss with the lender to see what his sell to or holding themselves at home, you will regret it.
NO. Private mortgage insurance will help to disaster, as if one of you has died or disabled in an accident or something. Therefore, if you keep your house, but suddenly and unexpectedly unable to make payments.
Not for people who have freely accepted to make payments and then change their minds and decide they have no adult responsibilities.
NO! The insurance protects the lender only losses. Who can be a 1099 IRS to pay their income projection for the year file, so you more in taxes. And if you decide you do not want to pay taxes, I am sure that Uncle Sam consider a cell in Nice for you, since it has in the future, the effects of devastating his claims for the years ahead. I suggest you do everything possible to save the property.
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