Private Mortgage Insurance Carriers an Unlikely Source of Foreclosure Support for Florida Homeowners
The private mortgage insurance companies, which banks and other lenders utilize to mitigate losses on foreclosed mortgages, are stepping in to assist homeowners with their foreclosure problems. The companies, which must pay lenders for their losses on foreclosed mortgages, have assistance teams available to not only save the PMI companies money, but also, help homeowners remain in their homes as well. In fact, one PMI company noted that for over ten thousand cases they handled, nearly 89% of all homeowners will able to remain in their homes.
For Florida homeowners facing foreclosure, this is a very exciting and plausible solution for their foreclosure problems. A Florida foreclosure lawyer can get homeowners in touch the PMI company that insures their mortgage with Florid lenders and bankers. Once in place, all parties can come to a legally binding agreement that allows homeowners to remain in their homes and avoid foreclosure.
Even some subprime mortgage holders may be able to receive assistance from these companies in some instances. If you or someone you know is facing foreclosure, contact a Florida foreclosure lawyer today about assistance from private mortgage insurers right away.