Correction: the seller does not have our money, the title company is holding it until they sign off on the HUD agreement. 

That's been shown to be correct by a couple of very large datasets for 100,000's of apartments.

Mortgage insurance depends on the loan amount and the premium.What do you think isn't correct?

., they enrich our lives, give us jobs and food and many services we take for granted.

Point being, no matter what solution(s) that you chose or get looked into, see an atty. to protect your property and to make sure you conduct the process correctly.

No one can mitigate all risk, but I would rather have a chance at being wealthy earlier in life using debt (its what the FED does, and no matter what you think about it, or how you think it is going to end, if they flame out, I could care less if you own you property free and clear we are all in deep doo doo).If you use debt to no more than 70-75% LTV, in todays market, we could still have a correction and you would have an equity cushion.

One day, maybe they'll be correct.

I love travel, good food, and golf!

However, to get the deal on the front end, you would have had to submit POF in YOUR name, correct?

Joel Owens is correct, you need to seek legal counsel.