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Rainmaker
1,708,245
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It gets them a loan.

Feb 16, 2017 05:17 AM
Rainer
213,213
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

No benefits to a borrower, protects lender somewhat in a foreclosure.

Feb 16, 2017 03:13 AM
Rainmaker
1,466,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

abby tiscareno Mortgage insurance benefits the lender in case of default. I guess you could say it benefits the borrower by allowing them to put a lesser amount of downpayment.

Feb 16, 2017 06:23 AM
Rainmaker
3,384,706
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It does not benefit the borrower directly, it is strictly to benefit the lender if the buyer defaults and gets foreclosed on. 

Feb 16, 2017 05:30 AM
Rainmaker
2,153,027
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Protection 

Feb 16, 2017 05:20 AM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

This is a good question to ask the lender.

Feb 16, 2017 06:08 AM
Rainmaker
915,878
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Mortgage insurance is an instrument that allows lender to escape the consequence of faulty lending practices. We learned this lesson a few years ago and the world economy took a hit because of Bank of America.

The bank behaves badly, the taxpayer pays the bill.

Nothing has changed.

Benefit the borrower? No.

By the way Abby, do you currently own any real estate?

Feb 16, 2017 05:23 AM
Rainmaker
4,568,013
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Benefit to buyer is lower down payment. Benefit to lender is some protection from loss in event of foreclosure

Feb 16, 2017 04:39 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Others have answered.

Feb 16, 2017 03:49 AM
Rainmaker
4,490,761
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

No benefit to borrower.

Feb 16, 2017 03:33 AM
Rainmaker
634,382
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Protects the lender in case of default, may be required for the borrower to get financing.

Feb 17, 2017 01:49 PM
Rainmaker
1,430,231
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Benefits the lender.

Feb 17, 2017 09:13 AM
Rainmaker
7,036,993
Roy Kelley
Retired - Gaithersburg, MD

The insurance enables financing and provides protection.

Feb 17, 2017 07:01 AM
Ambassador
4,316,215
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

abby tiscareno - well, buyers get mortgage and lenders get a client!

Feb 16, 2017 10:23 PM
Ambassador
3,987,010
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Mortgage insurance protects the lender.

Feb 16, 2017 09:52 PM
Rainer
320,129
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Protects lender if borrower fails to pay.

Feb 16, 2017 09:39 PM
Rainmaker
142,746
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

It only protects the lender in case of buyer default.

Feb 16, 2017 08:09 PM
Ambassador
5,752,727
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Covers the lenders butt, and puts a few extra bucks in their pocket, allows the borrower to get the loan.

Feb 16, 2017 07:47 PM
Rainmaker
1,558,356
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

The only benefit for a borrower: financing. It mostly protects a lender in a case of default. 

Feb 16, 2017 06:49 PM
Rainmaker
2,224,167
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

It's an extra fee for the buyer, but protection for the lender should the buyer get foreclosed on. 

Feb 16, 2017 06:45 PM
Rainmaker
1,157,535
FN LN
Toronto, ON

There are several types of mortgage insurance.  Which type are you referencing?

Feb 16, 2017 09:10 AM
Rainmaker
5,580,884
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

it only of benefit to the lender.... if the borrower defaults....

Feb 16, 2017 09:06 AM
Rainmaker
849,202
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Borrower gets the house; lender books a loan.

Feb 16, 2017 08:49 AM
Ambassador
3,983,668
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

lender

Feb 16, 2017 08:26 AM
Ambassador
3,158,194
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

It does not benefit the borrower directly. It benefits the lender as protection if the borrower defaults on the loan.  Borrowers who have to pay MI benefit because they can buy a home with little down. 

Feb 16, 2017 08:06 AM
Ambassador
2,608,498
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Only the Lender.

Feb 16, 2017 07:05 AM
Ambassador
1,900,427
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

The only benefit to the borrower is that it satisfies a condition to get the loan approved.  The mortgage insurance itself is for the benefit of the lender in case of default by the borrower.  

Feb 16, 2017 07:03 AM
Rainmaker
5,767,466
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

It has been answered very well.  A

Feb 16, 2017 07:02 AM
Rainmaker
2,054,599
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

It helps protect the lender in case of default

Feb 16, 2017 05:17 AM
Ambassador
1,616,454
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

ask insurance broker this quetion

Feb 16, 2017 04:33 AM
Rainmaker
3,070,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Dennis Swartz nailed this one!

Feb 16, 2017 03:55 AM