5 times 10 to the negative fourth of all houses in the united states have a delinquency that is being paid for up front buy the home buyer
Its a crisis
That's some good research.
Jokes aside i honestly wouldn't be surprised if there is something like this, I just think you have to be accountable/have a paper trail. Like the Moderator Action Logs Thread
FHA has always given riskier loans, it charges an up front mortgage insurance and a monthly insurance to fund the pool of money that is used to keep these riskier buyers from foreclosure. The bailouts are funded by the buyers.
Yes. What I'm saying is that the monthly PMI makes up the majority fo the funds.
The funds are being used for why they were collected?
I'm at a loss as to how 1.75% can cover delinquiencies for years at current interest rates LMAO
ou have the option to pay this amount in cash when you close your loan, but most people choose to roll it into their total mortgage amount.
We all struggle with math sometimes.
the current interest rate is 6%? which is bigger than 1.75%
And total delinquencies are 0.06% of all loans
How can insurance remain so profitable when 0.06% of people crash their cars and 100% of people pay insurance sure is a puzzle
the real qurstion is how much money is the government losing on these mortgages.
well insurance isn't profitable they left California.
No thats the question you made up after getting absolutely destroyed
How much money does the government lose feeding children
the government just needs to publish whether their total pool of money is red or green. MoM
They do this
i have serious doubts that lost mitigation policies are sustainable in general.
no I don't thnik they actually do.