PMI and Foreclosure

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Posted by Terry on December 02, 2004 at 06:54:12:

I live in OHIO. I am currenty paying PMI and I can no longer afford my home. I am applying for hardhsip assistance. The question: Will my PMI pay any deficiency of debt to the bank if my house is sold at an auction? I owe 167000.00 and the bank appraised it at 168000.00 but it wont sell for that because of all of the other foreclosures on the street with identical houses selling for 105000.00.
When requesting hardship assistance, will the bank expect me to cash in my retirement savings to use as an asset?

Follow Ups:

• Re: PMI and Foreclosure - Jay 22:27:13 12/02/04 (0)
• Re: PMI and Foreclosure (url) - Janie 10:41:02 12/02/04 (0)

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Comments:
: I live in OHIO.   I am currenty paying PMI and I can no longer afford my home.  I am applying for hardhsip assistance.  The question:  Will my PMI pay any deficiency of debt to the bank if my house is sold at an auction?  I owe 167000.00 and the bank appraised it at 168000.00 but it wont sell for that because of all of the other foreclosures on the street with identical houses selling for 105000.00.  
: When requesting hardship assistance, will the bank expect me to cash in my retirement savings to use as an asset?  


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