Homeowners in Danger of Falling into a Foreclosure Echo – Big Money Real Estate
On today’s Big Money Real Estate daily update, Ilyce talks about the “foreclosure echo” with Jenifer McKim, Senior Investigative reporter with the New England Center for Investigative Reporting. People who lost their homes to foreclosure, and used PMI (Private Mortgage Insurance) to make the purchase, are in danger of falling into a foreclosure echo. PMI protects the mortgage lender, but not the buyer, McKim says. To learn how this could affect you or the housing market, watch Ilyce and Jenifer on Big Money Real Estate.