How could a mortgage company in bankruptcy?
I understand that to be “sub-prime loans left and right foreclosed, and I understand why. But what I do not understand: If I get a mortgage “subprime for more than 80% of the value of my house, I am also paying PMI – private mortgage insurance. Literally, I am for my mortgage company to insure against loss, they pay, if I default on my mortgage begegnen.Also if I default, the mortgage company to my house and sold it and made Then an insurance claim (against the policy, I paid over time) against a net loss. So when they lose – they make money when I pay my bill and they do not lose money if I did not – then how can it fail?