There is certainly nonetheless some thing I am unable to see a decisive cure for. FHA was an insurance coverage that we shell out encouraging the financial institution often get their money (regardless of if i live in this new be certain that). In the event the discover a default why does they works? If I am investing insurance to FHA and you can standard perform they shell out the lending company and i live in paid for (anyway it is insurance coverage) otherwise what the results are? Looks like I installment loan agency Seattle WA am paying for insurance coverage that is not very insurance policies. The lender simply gave me throughout the 80% of your own value of my personal new house and therefore if i standard they will certainly enjoys their cash. As an instance basically own a great $two hundred,100000 household, I lent $130,100000, paid off $ten,100 upcoming defaulted ($120,000 bal) as well as specific cause they produced $80,100000 in the auction or any kind of create it (fha) pay just $forty,100000 and i also nonetheless eradicate my personal family. Read more