tag:blogger.com,1999:blog-6472507616285260962.post7254415126295122006..comments2023-05-08T05:16:36.124-07:00Comments on higgsblogon: Whither PMI?Owen T. Cunninghamhttp://www.blogger.com/profile/17823770160312036509noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6472507616285260962.post-57231064049214020232008-10-14T09:01:00.000-07:002008-10-14T09:01:00.000-07:00Wow, that's a pretty glaring oversight on my part....Wow, that's a pretty glaring oversight on my part. Thank you for clueing me in.<BR/><BR/>In thinking about foreclosure sales, it makes me wonder -- why aren't hordes of foreign real estate speculators scooping up all these properties? A handful of sufficiently motivated Russian billionaires could easily take over a hefty chunk of our future housing market.Owen T. Cunninghamhttps://www.blogger.com/profile/17823770160312036509noreply@blogger.comtag:blogger.com,1999:blog-6472507616285260962.post-8913384226648470612008-10-14T07:49:00.000-07:002008-10-14T07:49:00.000-07:00PMI is not a silver bullet, though. According to ...PMI is not a silver bullet, though. According to Wikipedia (http://en.wikipedia.org/wiki/Lenders_mortgage_insurance), PMI fills the gap between the lender's costs and the proceeds from selling the foreclosed property. Consequently, PMI does not just pay off the loan. The lender has to first sell the foreclosed property. If credit is not readily available for investors or average homeowners, the lender will not be able to sell the property. As a result, there may be a spike in PMI claims, but, that statistic will probably be a lagging economic indicator.Anonymousnoreply@blogger.com