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To: Neeka who wrote (272739)10/7/2008 12:39:53 AM
From: ManyMoose1 Recommendation  Read Replies (1) | Respond to of 793887
 
If I'm not mistaken, Mortgage Insurance insures against death or disability of the insured, but not inability to pay.



To: Neeka who wrote (272739)10/7/2008 12:27:12 PM
From: jlallen  Read Replies (1) | Respond to of 793887
 
Here is why.....

The lender puts on a first mortgage @ 80% LTV. No PMI Needed.

The balance gets advanced on a second lien such as a HELOC or other junior financing.

Voila!

J.