Buying A Home
Dear Community,

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question about our SS

After 6 months of waiting, we got "bank approval" for our SS.  Our RE said that the next step is to get the approval from the mortgage insurance company?  What does that mean?  

Does this even make sense? lol 

Re: question about our SS

  • The Seller's MI company.  They must have put less than 20% down.  They have to decide if they're willing to take a loss since they insured the loan.
  • The people that owned the short sale that we recently purchased also paid mortgage insurance. After we received approval from the bank, it took about another 2 weeks for the mortgage insurance company to approve it as well.
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