What is the name of your state?Indiana
We had a foreclosure in Nov. 04 due to a job loss and accident involving an uninsured motorist. We had 2 offers for a short sale that were denied because the mortgage company said we had PMI. We were not required to take out PMI with the original loan, but I guess when this company bought the mortgage they took it upon themselves to take it out and pay the premium. We didn't know we had it. The house went to sherriffs sale, mortgage company bought it back, then sold it 6 months later for $30,000 less than the 2 original offers. Now the PMI company is suing us for the deficiency. Can they do this even though we weren't required to have this insurance and never payed a premium?
We had a foreclosure in Nov. 04 due to a job loss and accident involving an uninsured motorist. We had 2 offers for a short sale that were denied because the mortgage company said we had PMI. We were not required to take out PMI with the original loan, but I guess when this company bought the mortgage they took it upon themselves to take it out and pay the premium. We didn't know we had it. The house went to sherriffs sale, mortgage company bought it back, then sold it 6 months later for $30,000 less than the 2 original offers. Now the PMI company is suing us for the deficiency. Can they do this even though we weren't required to have this insurance and never payed a premium?