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Policy pitfalls of mortgage insurance

Policy pitfalls of mortgage insurance

The number of property buyers taking out lenders mortgage insurance is soaring. But just who does that insure?

An alarming number of borrowers don't understand after the bank gets paid out they could still be left hundreds and thousands of dollars in debt to the insurer, should anything go wrong. With house prices likely to ease and interest rates destined to rise, many borrowers could find themselves in much more trouble than they bargained for.

Author: Elysse Morgan
Source: The Business
Last modified onThursday, 17 July 2014 00:39

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