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It used to be that when you bought a home and didn’ t have a twenty percent down payment lying around, you had to pay what is known as private mortgage insurance (PMI). PMI is insurance that the lenders requires borrowers to pay to insure that the lender recoups their funds on your mortgage in case you default on the loan. PMI can add hundreds of dollars in additional costs to your monthly housing payment. The bottom line is that PMI is bad for consumers. It is bad because it is expensive. It is bad because...