PMI to pay underwater borrowers to stay put

by Gary and Lisa Schoeffler on July 18, 2011

in Latest News

Private mortgage insurer PMI Group (PMI: 1.11

-12.60%) will offer cash incentives to some homeowners in negative equity to help prevent mortgage defaults….The program launched Monday and will start in select real estate markets where falling house prices left borrowers owing significantly more on their mortgage than what the property is worth.

Lisa Schoeffler, CRS, ASP
Prudential California Realty
805-766-7373
GaryandLisa.com
A member of HomeServices of America, Inc.
a Berkshire Hathaway affiliate

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