When You First Buy A Home, It Can Be Very Frustrating Andcomplicated But It Can Also Be Extremely Exciting. There Isno Feeling Like Being Able To Call A Home Your Own And Havethe Freedom To Decorate It And Change It Any Way You Want.Do You Want Old Wrecked Cars On Your Lawn Go For It.Finally Build A Duck Pond Of Your Own Sure, Its YOURhouse And You Can Do What You Want.Unfortunately, Life Happens And Sometimes You Wont Quitebe Able To Make Your Loan Payments All The Time. This Iswhere Private Mortgage Insurance Comes In.When You First Buy Your Home, Most Lenders Expect You Topay A Large Down Payment Of At Least 20 Percent Or Get Somekind Of Insurance Loan Protection Program Thats Calledprivate Mortgage Insurance.This Insurance Coverage Will Protect The Lender Just Incase You Are Ever Unable To Make Your Monthly Payments.This Insurance Doesnt Cover Anything Else Though.If Your Home Catches Fire Or Something, You Better Hope Youhave Some Other Types Of Insurance. This Is Only To Coveryou If You Fail To Make Your Payments.Even If You Dont Need It, It Doesnt Hurt To Get Privatemortgage Insurance Just In Case. No Job Is 100 Percentreliable And If You Have To Relocate Or Change Jobs, Youwont Have To Worry About Your House Payment If You Happento Go A Week Or Two Without Pay. Its Better To Be Safethan Sorry.
