Piggyback mortgages that is, not the ride children love. Piggyback mortgages, a.k.a. second mortgages, are a loan that rides on top of your primary mortgage that. In combination with your down payment, these mortgages allow you to avoid paying private mortgage insurance (PMI). They were extremely popular in the early 2000s and then went almost extinct after the housing market declined in 2008. With the economy and the housing market on an upswing, it looks like Piggybacks are coming back.
Piggyback mortgages are ideal for several reasons
It’s great for borrowers who want to avoid paying private mortgage insurance but […]