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Not only do you pay property tax and a host of other fees, you have to pay homeowners insurance (which usually covers nothing) on top of that. Worst part, is the bank originating the loan (read making money out of nothing) is the one usually offering the insurance, creating a massive conflict of interest

Not only do you pay property tax and a host of other fees, you have to pay homeowners insurance (which usually covers nothing) on top of that. Worst part, is the bank originating the loan (read making money out of nothing) is the one usually offering the insurance, creating a massive conflict of interest

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They have to do it because most people are idiots and have no integrity at all and won't pay anything even if they could if something happens to their investment, such as a car or a house. In my opinion, if you dont have insurance and your house burns down, you should still have to pay the mortgage if you dont have insurance.