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Arizona Country : Real Estate Advice

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Fri Nov 20, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
The pmi is insurance for the bank if there is a default. You pay the insurance but it is so you can get the loan and the risk to the bank is less. The reason the pmi will not approve the short sale is that it was going to be a total loss to them. They want to mitigate their loss they will want money or some type of note to ensure they can reduce their loss.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
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