Consumption and Real Estate
Can the mortgage companies insurance company come after me for their loss after a forclosure in CT?
I tried a short sale, but the mortgage companies insurance policy (not PMI) wanted me to sign a note for $79,000. I know Connecticut is a non-recourse mortgage state. Can the insurance company come after me if I turn in the keys and let them forclose?
No- they are a mortgage INSURANCE company. They insure the lender against losses like this, and that is why you had to pay for the insurance. The mortgage company themselves can still come after you if you owe them money, but you did not agree to a debt with the insurance provider so how can they expect you to pay?