Home Loans and Support

PMI Insurance company calling....short sale almost ready to close...Help!!

Discussion in 'Short Sale Outpost' started by Joanna100101, Oct 30, 2008.

  1. Joanna100101

    Joanna100101 LoanSafe Member

    I hope someone can help me. After a WHOLE YEAR, we are finally almost ready to close on my home as a short sale. Our expected closing date is Dec 1st. Citimortgage approved it and I thought that finally this thing will come to an end...until....today..I got a call from someone saying they were a Security Auditor hired on behalf of Genworth Mortgage insurance who are the people handling the PMI insurance on my loan. The lady was extremely nasty and said she needed to go over the documents of my loan (which was a refinance). So I asked her what she needed because we were selling the house. She said she wanted to go over the statements and information given at the time of my refinance back in august of 07, before we listed the house on the market. Well, I ended up hanging up because I didn't know if I should speak to her or not.
    So, What I want to know...is What is going on? If the bank approved the sale....Can these people come after me for something? I thought that once the bank says yes...we will be able to move on. I would appreciate any help someone can give. This has been such a nightmare...and I finally thought we were in the home stretch..and now this!!
  2. Tom H

    Tom H LoanSafe Member

    The PMI companies all have loss mit folks as well. Sometimes they do charge you for what they're out if they have to pay out on a claim. Although, this may be much cheaper than holding onto the place if the shortsale is approved. I've heard of them taking less than what the claim is or financing it at 0 percent interest. 0% ain't too bad. You have to look into it, and please don't take my word for it. I tried shortsale - it was a nightmare and I ended up keeping the home and renting it.

    Good luck!

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