Can the mortgage companies insurance company come after me for their loss after a forclosure within CT?
I tried a short sale, but the mortgage companies insurance policy (not PMI) wanted me to sign a details for $79,000. I know Connecticut is a non-recourse mortgage state. Can the insurance company come after me if I turn in the keys and consent to them forclose?
Answers:
..and if you lose, you pay all THEIR expenses.
they can try; you might have to protect yourself in court. If you win
you can get adjectives your expenses. Source(s): RE broker
No- they are a mortgage INSURANCE company. They insure the lender against losses like this, and that is why you have to pay for the insurance. The mortgage company themselves can still come after you if you owe them money, but you did not agree to a debt with the insurance provider so how can they expect you to repay? Source(s): 15 years of mortgage lending expierence
Related Questions:
Answers:
..and if you lose, you pay all THEIR expenses.
they can try; you might have to protect yourself in court. If you win
you can get adjectives your expenses. Source(s): RE broker
No- they are a mortgage INSURANCE company. They insure the lender against losses like this, and that is why you have to pay for the insurance. The mortgage company themselves can still come after you if you owe them money, but you did not agree to a debt with the insurance provider so how can they expect you to repay? Source(s): 15 years of mortgage lending expierence
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