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Mortgage
Insurance Premium or MIP.
Insurance
required by a lender in case of default. Associated with FHA
loans.
If
you are buying FHA foreclosures, the government will require
that you obtain mortgage insurance if they are the lending
agency. This protects the government if you were to
default on the loan. Although it varies, typically,
mortgage insurance is approximately $200 per year.
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Tax
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REITs
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