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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Lizzie Tudor who wrote (70879)10/3/2006 8:02:55 PM
From: benwood  Read Replies (1) of 110194
 
I remember the same thing in '93 when we bought our current house. My new gripe is that for as long as I have a mortgage, I must have a homeowner's policy with a small deductible (<= 1% of structure value). Doesn't matter if I have a hundred grand in the bank, they won't let me raise the deductible past $1000 for my current house (next tick is $2500 and structure valued at $220k). The irony is that if I use my policy, I'm likely to be cancelled (like before, by Allstate).

It's Fannie Mae's requirement, btw, protecting me from myself at my expense.
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