Exactly how does PMI insurance work if a home goes into fore

Submitted by mj.smith1 on Thu, 03/05/2009 - 05:11

How does the mortgage company collect on the PMI if a mortgage is foreclosed on? If a coveraed propetry is sold at a sheriff's sale and the proceeds goes to the mortgage holder does the insurance then pay to the mortgage company the difference between the sale price and the mortgage balance?

Posted: 06 Mar 2009 01:29 Post Subject:

i suppose this is the topic of mortgage forum.so it will be better to post this thread to mortgagefit forum. :arrow:

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