PMI Mortgage Insurance Co., a leading mortgage insurer and proponent of sustainable homeownership, has found that many homeowners who are facing foreclosure are unaware of the potential solutions available to them. Many lenders are also overwhelmed with the flood of inquiries from their borrowers, so PMI is providing information to help homeowners make the appropriate decision that addresses their specific needs.
"Foreclosures benefit no one and impact the fabric of communities," said John Jelavich, VP of PMI's Homeownership Preservation Initiatives. "Individuals facing foreclosure are not aware that in most cases lenders can be flexible to develop solutions that will meet the economic situation faced by their borrowers with the goal of keeping them in their homes."
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