PMI - Negotiating Mortgage Insurance question

I have a short sale with Chase that has PMI. Looking for advice has to how to negotiate the amount they are asking for. There is a cash buyer and Chase is happy about that part. It's the Mortgage Company that is the difficult part. lAnd, they want an answer by this Friday 6/15. .... Thanking you in advance! ... Jane

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Permalink Reply by Ben Benita on June 13, 2012 at 1:19pm

PMI - couh, could be a lost cause depending on the "coverage ratio".

FInd out who the PMI is with, and, ask them what hte "coverage ratio" is, this will tell you how much they must pay out if the home goes to foreclosure.

You should be able to use this number to work backwards and get some straight answers......

Permalink Reply by Jane Davies on June 14, 2012 at 2:00pm

Thank you, Ben!

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