How MI/PMI affects a Short Sale?

Posted by Merdog on August 27, 2008 at 06:00:40:

The lender has sent Short Sale offer to Mortgage Insurance Company for blessing. Package looks good for seller/buyer and best for the lender. The offer came in at 81% of loan amount (no late or other fees included). The offer is also 99% of the BPO and additional Appraisal. Looks as if the offer is at or near Market Value. My question is: Why would the MI company have any say on a short sale and how can they help or hurt a short sale?

Follow Ups:


Name    : 
E-Mail  : 
Subject : 

Comments: