As my 1st mortgage in going through a HAM modification, my 2nd mortgage, originated by the same company as the 1st, was assumed by the lender’s MI after an insurance claim was paid to the lender. What right does the MI have to seek collection for the 2nd?
The MI company has EVERY RIGHT to seek collection. They should and they will. PMI/MI doesn’t protect you, it protects the lender from borrower like you.
You can’t just walk away.
August 29th, 2010 at 9:36 pm
The MI company has EVERY RIGHT to seek collection. They should and they will. PMI/MI doesn’t protect you, it protects the lender from borrower like you.
You can’t just walk away.
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