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sleze69 a Computer Scientist

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sleze69 on Mar 18, 2008

Sorry this took so long. I just now noticed that I had a message.

The biggest problem I have in getting rid of PMI is that I have to wait until I get to 80% LTV with the mortgage. Luckily, the area I am in is doing ok but it will still be a while before I get there.

The other thing that complicates my re-financing is that I pre-paid a bunch of the PMI up front and now it is very low ($6/month). If I get a new mortgage, I have to do it all over again and either prepay again or have it return to normal levels.

Unless your new loan gets you close to the %80 mark or you are going to sell soon, you may want to consider paying upfront money on your PMI. My upfront payment will be worth it in another year or so.


opsomath on Jan 22, 2008

hey, I saw your comment about pmi on the consumerist. I am a homeowner trying to get rid of mine as well; what problem are you running into?


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