Okay, I understand that I am liable for the mortgage, that makes sense. But essentially, I am paying an insurance premium to protect someone else (the investor). I know of no other insurance where I am paying a premium and then not getting any coverage in return. I think its just a backwards way to do things.
If the investor wants insurance, they should insure the mortgage themselves, not the borrower of the funds. At least, that's how I see it.
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