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Conventional home mortgage loans exceeding 80 percent of value generally require PMI. As a result, there are strong incentives for borrowers to put 20% down.
Conventional home mortgage loans exceeding 80 percent of value generally require PMI. As a result, there are strong incentives for borrowers to put 20% down. However, in many cases, especially in the 2000s, it was difficult for some buyers to make a 20% down payment. As a result, mortgage lenders responded by creating what type of loans? Group of answer choices
Piggyback mortgages
Piggyback Home equity loans
Reverse mortgages
None of the above
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