Quote:
Originally Posted by jimhurtt@twc.com
Just adding to your comment of money making add-ons to buying a house, one of the worst is a mortgage company requiring a buyer to buy mortgage insurance to protect the lender against the buyer defaulting on the loan. This is added to the monthly payments for the life of the loan. How they get away with these things is criminal.
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If you make a 20 percent down payment, you don't need to pay mortgage insurance. I think that should be the minimum standard requirement to buy a house. Buying mortgage insurance should not even be an option.