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JDPriestly

(57,936 posts)

9. Excellent point about the PMI insurance.

Reply to JHB (Reply #1)

Mon May 7, 2012, 08:11 AM

May 2012

It makes it more difficult for young couples and families to buy houses and thus, pushes the housing prices down. Even if you never miss a payment, you have to stay in a house for years before you can afford to move.

Meanwhile banks got bailed out. We got sold out.

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Highlight:

Look Who’s Pushing Homeowners Off the Foreclosure Cliff [View all] marmar May 2012 OP

"when homes go into foreclosure, banks lose money" -- maybe ordinarily, but not these days... JHB May 2012 #1

Excellent point about the PMI insurance. JDPriestly May 2012 #9

I have no PMI, no escrow on my mortgage. But BOA keeps trying to forceplace insurance on us. dixiegrrrrl May 2012 #14

They're probably planning to buy up everything in sight. BASTARDS! secondwind May 2012 #2

Yup, they may lose money on every foreclosure, but if they foreclose on everyone they'll make it up slackmaster May 2012 #10

We need more folks like George Bailey !! secondwind May 2012 #3

Florida will fix it right after Hell freezes over. Fuddnik May 2012 #4

If you look closely at the insurance company that Wells Fargo contracts with mrdmk May 2012 #5

Wells Fargo just started something similar with our refi... FailureToCommunicate May 2012 #7

How can this be legal? This is horrible. nt Honeycombe8 May 2012 #6

Du rec. Nt xchrom May 2012 #8

Homeowner's insurance is one thing a homeowner should never try to go uber-cheap on slackmaster May 2012 #11

Our Mortgage Lender forces us to have flood insurance at $1600 a year Pachamama May 2012 #12

My bank ORDERED me to... meaculpa2011 May 2012 #13