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02Oct

One cause of the mortgage problems

Finances & Loans, Home Ownership, Real Estate & The Economy

Between 2000 and 2007, many lenders offered homebuyers without a 20 percent downpayment several ways to get a house without mortgage insurance, such as so-called “piggyback” loans. “The loans that are in the most trouble are the loans that circumvented mortgage insurance,” says Jeff Lubar, spokesman for the Mortgage Insurance Cos. of America. More details here
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Posted by admin @ 5:27 pm