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      07-16-2012, 03:29 PM   #45
48Laws
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Quote:
Originally Posted by MediaArtist View Post
Horrible, horrible advice. This is the reason FHA loans are now deliquent at 27% (it was 10% in 2011). What your describing simply doesn't work.
No it's not. This is also recommended by many industry experts. The delinquency regarding FHA loans isn't as cut and dry as you make it. Again, PMI is to offset the lack of equity in a new home which is something lenders want to safeguard. I recommend 3-15% down and the rest for emergency funds. Why throw all your money into a liability anyway? Bad advice. Lol