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Path: utzoo!utcs!mnetor!mot!fred
From: fred@mot.UUCP (Fred Christiansen)
Newsgroups: net.consumers
Subject: mortgage insurance
Message-ID: <252@mot.UUCP>
Date: Wed, 11-Sep-85 12:45:49 EDT
Article-I.D.: mot.252
Posted: Wed Sep 11 12:45:49 1985
Date-Received: Thu, 12-Sep-85 01:41:10 EDT
Organization: Motorola Microsystems, Phoenix AZ
Lines: 16

[]
About once per month I get a friendly letter from my mortgage company
encouraging me to buy mortgage insurance.  Since it looked like junk
mail, I tended to throw them away.  However, upon recent examination,
the idea looks like it has some merit.
	Then again, thought I, am I not already paying a form of mortgage
insurance .. that 1/2 % interest that FHA slaps on for the life of the
mortgage?  Well, to be frank, I have no idea what that FHA 1/2 point
does, nor who benefits.
	Anyone know?  If I get mortgage insurance, can I tell FHA to
forget that 1/2 %?
-- 
<< Generic disclaimer >>
Fred Christiansen ("Canajun, eh?") @ Motorola Microsystems, Tempe, AZ
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ARPA:  oakhill!mot!fred@ut-sally.ARPA             AT&T:  602-438-3472