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Private Mortgage Insurance Company

Wayne Said:

How can a mortgage company go bankrupt?

We Answered:

Not everyone has PMI...Mortgage companies don't want to own or manage properties...they want the cash. Foreclosure means they own a property and incur all the expenses associated with maintaining it. Mortgage companies don't want this overhead and often have to sell the property to recover something/anything they can. In the end it's often not enough to cover their loan so they end up bkrpt. PEACE!

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