Surety Bond Forums - JW Surety Bonds
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Old 09-16-2007, 05:26 PM
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Default Bond Liquidity
After obtaining a mortgage surety bond, what is the process for liquidating the bond.
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Old 07-22-2008, 05:02 PM
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Default
The bond can not be liquidated. It does not have a cash value as one might think. It is similar to an insurance policy and is used when a claim arises and needs to be paid. The mortgage broker is responsibble for paying the claim settlement back to the Surety Company.
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