After 50 days file "closed" by lender b/c mortgage insurance wanted seller to sign promissary for 15k and they said no way! What is this about?

Asked by dodlebug9193, Rex, GA Wed Nov 14, 2012

I am buyer, agent resubmitted file with $2500 offer from seller to settle this. Is this a lost cause? any ideas?

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Rodney Mason, Mortgage Broker Or Lender, Atlanta, GA
Wed Nov 14, 2012
MI companies are very often not willing to take a large loss on a short sale. This is why they were requiring a promissory note.
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