Comparing FHA And Conventional Mortgages With Less Than 20% Downpayment

With foreclosures proliferating, PMI defaults are up 26 percent over last year and double the levels from 2007. Private mortgage insurers are paying out on many more claims than was expected and, as a result, are booking huge losses. Homeowners are about to pay the price. To shore up balance sheets and protect against future losses, mortgage insurers have raised insurance rates and toughened underwriting guidelines.