The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Real Man who wrote (10164)	8/11/2008 12:43:26 PM
From: Debt Free	Read Replies (1) of 71455

Question for the Thread Why are all of the financial institutions having such a problem with foreclosures and the like? The reason I ask is that if you wanted to by a house and had less than 20% down, you had to purchase Private Mortgage Insurance (PMI) which is supposedly to protect the lender against loss if a borrower defaults on their loan. Is it because they sell their loans after they make them? Are they selling the PMI themselves and therefore effectively owe it to themselves? I have not seen anything that talks to this item previously. Anyone have any thoughts????

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