How to pronounce “mortgage insurance” in English

If you wanted to buy a house, you needed a mortgage.If you wanted a mortgage, you needed mortgage insurance.And this is where redlining comes into play.

In order to get a house, you had to have a mortgage.You had to get a mortgage to buy one or to build one, and to do that, you needed mortgage insurance, and the black community still did not have accessto mortgage insurance en masse.

He goes to the Federal Housing Authority.The Federal Housing Authority was responsible for handing out mortgage insurance.If you wanted to buy a house, you needed a mortgage.

And this is where redlining comes into play.The Federal Housing Authority had a color-coded system for providing mortgage insurance.Green and blue were perfectly fine, yellow was sketchy, and red was a big no.

you can do that.So that's why, if you put down less than 20%, they make you pay PMI-- Premium Mortgage Insurance-- to cover them, and protect them,