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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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You can buy whatever homeowners insurance you want. You do not have to buy what the bank offers you. The reason why they make you have it is because no one is going to pay the mortgage once the place burns downs and they meed to ensure they won’t take an L. If you buy one cash you do not have to buy it. But you’re an idiot if you don’t. Fuck, I had wind damage to my roof and my insurance paid for an entire new roof at peak lumber prices. Worth every penny you morons.