Asked 04/27/2008 11:43 am CT (Edwardsville, KS)
My mortgage has pmi insurance and the payment just went up because of insurance and taxes. I cannot afford the payments anymore even though I am current. If I default on the mortgage exactly what does the \"PMI\" do? and how much can they come back to me for?
The PMI will refund the lender some of their losses on your foreclosed loan. Whether or not the len...