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PMI covers cover the death of a co-owner?

my sister died January 22, 2008 .. Co-owner of the house with my mother which is 87 .. (HAD 65). AMP should cover half the mortgage on my mother .. must now more than the house is worth and simply can not afford to pay the mortgage, I think he was PMI insurance. thank you for your help!

No, it does not. PMI is an insurance the buyer is obligated to pay if they get less than 20% less than at home. It protects the bank and pay the bank if the bank failed to exclude the house. It will pay the bank the difference between what she did in the auction house, and the sum of the balance of the mortgage and foreclosure rates. Then, the bank has reached just yet after the owners of the difference. likely, unless your sister had a life insurance home was executed. And his mother's assets may be bound to pay the negative equity. This means that all their savings.

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