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Pmi Mortgage Insurance Company
Shannon Said:
What right does my insurance company have to Include my Mortgage Company on my claim check?We Answered:
Your mortgage company has a lien on your home. To protect the lien it expects the property to be repaired after a fire loss.By including the mortgage company the insurance company is trying to guarantee that its money is properly used.
PMI is a guarantee you don't walk away from the house and mortgage and really has little to do with maintaining the value of the property.