1,712,876
It gets them a loan.
-
Teri Pacitto
Westlake Village, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Carol Williams
Wenatchee, WA
213,263
No benefits to a borrower, protects lender somewhat in a foreclosure.
-
Inna Ivchenko
Encino, CA
-
Carol Williams
Wenatchee, WA
-
Tony and Suzanne Marri...
Scottsdale, AZ
1,466,257
abby tiscareno Mortgage insurance benefits the lender in case of default. I guess you could say it benefits the borrower by allowing them to put a lesser amount of downpayment.
-
Inna Ivchenko
Encino, CA
-
Carol Williams
Wenatchee, WA
3,416,038
It does not benefit the borrower directly, it is strictly to benefit the lender if the buyer defaults and gets foreclosed on.
-
Carol Williams
Wenatchee, WA
-
Scott Godzyk
Manchester, NH
2,221,927
Protection
-
Carol Williams
Wenatchee, WA
-
Anthony Acosta - ALLAT...
Atlanta, GA
4,800,132
This is a good question to ask the lender.
-
Ron and Alexandra Seigel
Carpinteria, CA
921,504
Mortgage insurance is an instrument that allows lender to escape the consequence of faulty lending practices. We learned this lesson a few years ago and the world economy took a hit because of Bank of America.
The bank behaves badly, the taxpayer pays the bill.
Nothing has changed.
Benefit the borrower? No.
By the way Abby, do you currently own any real estate?
-
Carol Williams
Wenatchee, WA
5,243,218
Benefit to buyer is lower down payment. Benefit to lender is some protection from loss in event of foreclosure
-
Carol Williams
Wenatchee, WA
4,434,177
5,115,152
634,532
Protects the lender in case of default, may be required for the borrower to get financing.
1,506,613
7,869,102
4,319,773
3,988,013
321,564
142,796
6,422,418
Covers the lenders butt, and puts a few extra bucks in their pocket, allows the borrower to get the loan.
1,625,053
The only benefit for a borrower: financing. It mostly protects a lender in a case of default.
2,224,473
It's an extra fee for the buyer, but protection for the lender should the buyer get foreclosed on.
1,157,791
There are several types of mortgage insurance. Which type are you referencing?
5,583,328
902,238
4,272,934
3,350,289
It does not benefit the borrower directly. It benefits the lender as protection if the borrower defaults on the loan. Borrowers who have to pay MI benefit because they can buy a home with little down.
2,684,769
2,189,272
The only benefit to the borrower is that it satisfies a condition to get the loan approved. The mortgage insurance itself is for the benefit of the lender in case of default by the borrower.
5,772,593
2,194,706
1,617,916
3,071,489