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

by mj.smith1 » Thu Mar 05, 2009 05:11 am

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?

Total Comments: 1

Posted: Fri Mar 06, 2009 01:29 pm 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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