PMI
PMI, or private mortgage insurance, reimburses lenders for the balance above 80 percent of the mortgage, if a home becomes a foreclosure. If you didn't put down 20 percent in cash on your home, you're probably paying private mortgage insurance. Learn more here about PMI -- who needs it, what it does and how to use it.
Featured PMI Article
Avoid PMI By Getting A Piggy Back Loan
Added January 19, 2009 by Ilyce R. GlinkSometimes new home buyers do not have 20 percent of the purchase price for the down payment. First time home buyers often have to pay for private mortgage insurance (PMI). A piggy back loan can help first time home buyers or anyone who is short of cash for a down payment.
Read More: Avoid PMI By Getting A Piggy Back LoanPMI Videos
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