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Investor Questions

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Real Estate Agent with Modern Broker

Why do investors want to know if there is a PMI or if a HUD1 was ever submitted to the bank?

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Amy O'Laughlin
Broken Arrow, OK

Hi, Roxanne!

I believe they want to know if there is PMI because (in a short sale), the PMI company will want to be paid X amount of dollars-usually a couple or few thousand-on top of the first mortgage payoff.  As to the HUD being submitted, that would show the preliminary figures, and any significant changes from the original figures would raise questions and/or flags.

Jun 10, 2009 07:36 AM