[Rick Lee]

Figure the mortgage insurance policy was based on the original financed amount with declining balance. So whatever was owed when they stopped paying is probably around the amount left on the policy. If the PMI is paying the bank monthly, this could probably go on for many years. If they paid a lump sum, it should be done with and the bank is just keeping it on the books to not (yet) show it as a loss. Is there an HOA to light a fire under someone?

Edit: Since you only need PMI on the amount financed above 80% LTV, that dollar amount might be the policy limit, which means it could run out a lot sooner.