having to move

Date: Sun, 10/05/2008 - 08:53

Submitted by anonymous
on Sun, 10/05/2008 - 08:53

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Total Replies: 2

What are my options in selling our house right now if the selling prices in the area are lower than we owe on he house. what does mortgage insurance do?

Having to move

I did it! I sold my house through a "short sale". As far as mortgage insurance-I don't know the answer to that one.

lrhall41

Submitted by girlndebt on Sun, 10/05/2008 - 16:52

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Mortgage Insurance (or "PMI") protects the bank from defaults on the loan. typically you will pay PMI if you put less than 20% down when you buy a house. PMI does not protect the buyer - just the bank.

lrhall41

Submitted by cheek.la on Sun, 10/05/2008 - 16:55

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