I did not score 100% ltv to my family and thus the financial institution do obtain cash back once they foreclosed
There clearly was nevertheless one thing I can't select a decisive way to. FHA was an insurance that we pay guaranteeing the lending company commonly manage to get thier money (regardless of if my home is the fresh new make certain). If the discover a default how does they work? In the event that I'm expenses insurance coverage so you can FHA and standard carry out it pay the lending company and you will my home is purchased (after all it is insurance policies) or what are the results?