• krische@lemmy.world
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    1 year ago

    Or when the housing market is booming, they’ll repossess the house and sell it again for even more of a profit.

    • Brandon658@lemmy.world
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      1 year ago

      Probably make as much use of the scam mortgage insurance that they can too. I forget what it’s actually called but it’s a scam IMO. $100 a month baked into my escrow for insurance to the lender in case I lost the house. To my knowledge it provides me no benefit.

      Upside is when I refinanced it was taken off. (Think the whole first time home owner program requires it for the initial loan.)