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Is there any incentive for b of a to accept a dil if i had pmi on my loan? Wouldn't they refuse and allow the prop. To go to foreclosure since they'll be paid any discrepancy by the insurer. If so would i be done with them and now have to worry about the insurer to come after me. I live in ca.

sara · Posted: Thu Mar 25, 2010 2:26 am Post subject:

Hi hondo,

If you've a PMI, then the lender will be able to recover the deficient balance even though they go for a deed in lieu of foreclosure. The deficient amount resulting from the sale of the property will be paid off by the PMI company to the lender. There are chances that the PMI company will come after you for the dues.

Take care.

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