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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (41122)	3/31/2005 12:26:20 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 206212

You raise a very interesting question. Your home is foreclosed, or you give it back to the bank, and the proceeds of the sale of your home by the bank does not cover the mortgage. If the loss is less than 20%, the PMI insurance will pay the bank for the loss on the mortgage. Will the PMI insurer pursue you for a deficiency judgment to recover the amount paid they the bank? The answer can probably be found by reading the PMI contract. I assume they will, unless their contract prohibits them from doing so. .