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\MARK POST #6209

Other then needing them if a down payment is less than 20 – 25 percent which is the present argument…

WHY WAS IT A REQUIREMENT AT ALL TO BEGIN WITH ?

IF A HOME OR HOUSE IS THE COLLATERAL FOR A MORTGAGE AND IT’S NOT GOING ANYWHERE ANYTIME SOON, WHY WOULD YOU NEED TO INSURE IT AGAINST A LOSS IF A MORTGAGE IS TAKEN OUT ON IT AND IF IN THE EVENT OF A FORECLOSURE THE HOUSE/HOME COULD BE RESOLD IN IT’S PRESENT STATE GIVEN THE NEVER SEEMINGLY ENDING UPWARD PRICES OF THE HOUSING MARKET.

AND INTEREST ON THE MORTGAGE BECOMES THE BULK OF INCOME GENERATION OF THE MORTGAGE PRINCIPLE… SO IT’S NOT LIKE ANYONE IS GOING TO LOSE MONEY ON IT ANYTIME SOON.

MORE INFO PLEASE – LOTS MORE IN CONSUMER LANGUAGE AND FIND OUT THE WHY OF A MORTGAGE INSURANCE PRODUCT AND HOW IT WORKS IN DIFFERENT SCENARIOS INCLUDING DEFAULT AND REPOSSESSION SCENARIOS EITHER BY DEFAULT OR DIVORCE.

BREAK IT DOWN INTO MULTI-PART STORIES.

TIME CONSUMERS KNEW THE WHY THERE IS SUCH A PREMIUM ON THE DAMN BIG MORTGAGE UNDER 20/25 PERCENT DOWN !

ALL I’M COMING UP WITH GOOGLE SEARCH IS THE USUAL RHETORIC ON THE PRODUCT.

http://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/hopr/hopr_001.cfm