You can get around PMI by coming up with 20 percent down. In todays market there are literally tens of thousands of properties in the metropolitan area that you should be able to get into if you honestly save for that goal. A person who has a 20 percent or more stake in thier home is less likely to walk away from it. A huge number of the distressed properties on the market now are the result of those late night 'make money buy houses no money down' guys you see in informercials. These were bought by people who were motivated by greed and the lure of easy money. Unfortunatley, these folks were not the sharpest knives in the drawer and had little invested in the properties so they ended up taking down entire neighborhoods.
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