If you are in foreclosure isnt the department of Housing and Urban Development insured by the MIP that you pay

Question: Is it possible for The Department of Housing and Urban Develpoment to deffer arrerage payments when you have a government loan if the bank has started foreclosure proceeding.

Answer:
No. All the MIP premium does is provide insurance to cover the lender against losses up to a certain amount if you are in default and they have to foreclose.

---

No. Sorry, but the foreclosure will continue unless you can come up with a compromise with the lender.

---

More Related Questions & Answers...

I am in Foreclosure, would like to know if there is government assistance?

Does anyone know what and how long the foreclosure process takes in CA?

How long does it take for a foreclosure to get off my credit?

I would like to buy a condo in florida. how do i find foreclosures inexpensively and how do i buy them?

How would i find information on the foreclosure I am looking at. money owed,liens,problems.?

Foreclosure in Las vegas, NV?

Is 16152 nela view in foreclosure?

At what point can you start to look for a house to rent after you're sure your house will go into foreclosure?

Is a mortgage co and a bank the same when it comes to having too many foreclosures on their books?

Canadian Foreclosures Question?