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Does private mortgage insurance change the foreclosure or deed in lieu proceedings?In: Foreclosure |
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Private mortgage insurance or PMI is insurance to protect the lender if the home is foreclosed upon and there is a deficiency. That deficiency is paid by the insurance company. It would not appear to have an effect on the foreclosure proceeding, just on your liability for a deficiency.
First answer by Hils400. Last edit by Hils400. Contributor trust: 92 [recommend contributor]. Question popularity: 45 [recommend question]
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