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Loss Mitigation Overview | Preparation | Loss Mitigation | Filing Claims
CU HomeKeepers | Hardest Hit Programs | Loss Mitigation Webinar
Hypothetical Example of a Percentage Option Claim
(Maximum Paid – Full Optional Claim)
| Product Type: Primary |
| Coverage 30% (100% LTV) |
| |
|
| Principal balance |
$207,286.63 (original unpaid balance $213,500) |
| Delinquent interest |
9,342.09 |
| Expenses Total |
5,613.00 |
| |
Attorney Fees |
440.00 |
| |
Real estate taxes |
2,410.00 |
| |
Hazard insurance |
1,053.00 |
| |
Preservation |
500.00 |
| |
Statutory costs* |
1,090.00 |
| |
Other expenses |
0.00 |
| |
Property Valuation |
400.00 |
| |
Deductions (escrow) |
(280.00) |
|
| |
|
| Total Claim: |
222,241.72 x 30% coverage = $66,672.52 |
| Premium refund: |
854.00 |
| Total Check Enclosed: |
67,526.52 |
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Please call your CMG MI Account Executive to facilitate discussion of your claim with our Loss Mitigation Department.
*State-required publishing, printing and auction costs associated with foreclosure.
CMG MI Understands the Comfort of Home
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