Dallas Real Estate News, Housing Trends, Home Prices, Home Tours, Candy Evans, DallasDirt Blog D Magazine » private mortgage insurance http://dallasdirt.dmagazine.com DallasDirt is a real estate blog with a focus on housing trends, realtor news, and photos of local fabulous homes from the editors of D Magazine Fri, 20 Nov 2009 18:00:43 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 So Whatever Happened To P.M.I??? http://dallasdirt.dmagazine.com/2009/01/29/so-whatever-happened-to-pmi/ http://dallasdirt.dmagazine.com/2009/01/29/so-whatever-happened-to-pmi/#comments Fri, 30 Jan 2009 05:07:46 +0000 Candy Evans http://dallasdirt.dmagazine.com/?p=1878 Did PMI have PMS? I actually had a dream last night about P.M.I. — that is, private mortgage insurance. (The trillion dollar bail-out is so mind-boggling I am dreaming about it.) I recall when we bought our first house we had to buy P.M.I. which was a sort of default insurance that would pay off the mortgage loan in case we didn’t. The bigger our equity has become over the years, the less we have had to pay.

But what about people who bought with zero down? Didn’t they have to pay P.M.I? Or were they, instead, encouraged to get second mortgages so that instead of having an insurance policy on default, they would screw over two banks instead of one?

May I make a modest suggestion: whoever initiated the dumping of P.M.I. helped make a significant contribution to the mortgage crisis and current financial meltdown. Agree?

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