my sisters teenagers trashed the house, so it needed some work… Also she was under water… Not even behind on mortgage…(stupid, I know… She went and rented for more)… I suppose she could have bought mortgage insurance… Probably owed 20 years and 180K… Redemption period ends in a month… What would happen if she had mortgage insurance… It sounds like it would be great for the lender? I have no idea what its purpose is… Can anyone explain it to me?
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