Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

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    There are many people who have invested in a house primarily for the purpose of flipping it and selling it for profit. In many cases the individual makes a good deal of money on the transaction and can end up having a very positive experience. However, in other cases it can be counted as a loss. Much of the difference is in the preparation of the house and the buying process.

  • About Me

    Do You Need Private Mortgage Insurance?

    Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.

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