Mortgage Insurance

Are Mortgage Insurance companies requiring a $11,000 promisory note? We have never dealt with an MI company. What are our options?

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Comment by Sara Mehrpouyan Los Angeles CDPE on February 28, 2012 at 6:16pm: What's the easiest & fastest way to get the name of the mortgage insurance co & coverage? Thanks.

Comment by Wendy Rulnick on November 10, 2010 at 12:33pm: Hi Justin - You can usually negotiate with an MI company. It's not a standard - some may want a promissory note, others a cash contribution. Find out if your seller is able and willing, if not see what they "can" do. Then go back to the MI company. Usually the terms will be -0- percent interest.

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