Hey thanks for the extra reading. I understand the example, but surely these are outliers? Banks won’t give you a mortgage without insurance, and most people d

Hey thanks for the extra reading. I understand the example, but surely these are outliers? Banks won’t give you a mortgage without insurance, and most people do pay their insurance. So banks can’t be taking that much of a hit except under extreme circumstances. Most of the time they do pretty well out of defaults. They just take the house and sell it. They’ll only lend to you in the first place if you have reasonable collateral (again 2008 housing crisis is a lesson they learned on that) but they still ultimately got the asset + all the money paid in interest up to that point. Am I missing something?