Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Does having private mortgage insurance change the foreclosure proceedings?

April 26, 2017foreclosure private mortgage insurance proceedings

0

Posted

Does having private mortgage insurance change the foreclosure proceedings?

1 Answer

0

Posted

Private mortgage insurance, commonly known as PMI, protects the lender in case of a loan default and there is a deficiency. That deficiency would be paid by the insurance company. It does not have an effect on the foreclosure proceeding, but only on your liability for a deficiency.