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  • April 16, 2008 at 12:59 PM #12453
    lwatt28th
    Participant

    We have had a loan for 2 years now….a fixed 30 yr, at 6.125%. We have never had a late payment. Countrywide will not consider removing our PMI unless we pay for an appraisal with an appraiser of their choosing, for $325, AND the current results of the appraisal must meet their 75% LVR requirement. With the market the way it is, there is no way our house will meet the 75%, especially with an appraiser of THEIR choosing. Do we have any recourse? We have no problem making our payment, but are sick of the PMI. We feel we have more than proved ourselves.

    April 16, 2008 at 1:06 PM #188422
    patientlywaiting
    Participant

    Sorry to say it, but the bank is doing the right thing. That’s what PMI is for — to safeguard the collateral based on loan to value ratio.

    PMI has nothing to do with how long you’ve made payments on time.

    April 16, 2008 at 1:06 PM #188442
    patientlywaiting
    Participant

    Sorry to say it, but the bank is doing the right thing. That’s what PMI is for — to safeguard the collateral based on loan to value ratio.

    PMI has nothing to do with how long you’ve made payments on time.

    April 16, 2008 at 1:06 PM #188470
    patientlywaiting
    Participant

    Sorry to say it, but the bank is doing the right thing. That’s what PMI is for — to safeguard the collateral based on loan to value ratio.

    PMI has nothing to do with how long you’ve made payments on time.

    April 16, 2008 at 1:06 PM #188480
    patientlywaiting
    Participant

    Sorry to say it, but the bank is doing the right thing. That’s what PMI is for — to safeguard the collateral based on loan to value ratio.

    PMI has nothing to do with how long you’ve made payments on time.

    April 16, 2008 at 1:06 PM #188486
    patientlywaiting
    Participant

    Sorry to say it, but the bank is doing the right thing. That’s what PMI is for — to safeguard the collateral based on loan to value ratio.

    PMI has nothing to do with how long you’ve made payments on time.

    April 16, 2008 at 1:32 PM #188448
    largemammal
    Participant

    A few months back there was talk in congress about making PMI tax-deductible. Anyone know if that ever went anywhere?

    Personally I’m not in favor of it, but maybe it’ll help you some. Smells too much of government subsidizing lenders to me.

    April 16, 2008 at 1:32 PM #188471
    largemammal
    Participant

    A few months back there was talk in congress about making PMI tax-deductible. Anyone know if that ever went anywhere?

    Personally I’m not in favor of it, but maybe it’ll help you some. Smells too much of government subsidizing lenders to me.

    April 16, 2008 at 1:32 PM #188502
    largemammal
    Participant

    A few months back there was talk in congress about making PMI tax-deductible. Anyone know if that ever went anywhere?

    Personally I’m not in favor of it, but maybe it’ll help you some. Smells too much of government subsidizing lenders to me.

    April 16, 2008 at 1:32 PM #188512
    largemammal
    Participant

    A few months back there was talk in congress about making PMI tax-deductible. Anyone know if that ever went anywhere?

    Personally I’m not in favor of it, but maybe it’ll help you some. Smells too much of government subsidizing lenders to me.

    April 16, 2008 at 1:32 PM #188516
    largemammal
    Participant

    A few months back there was talk in congress about making PMI tax-deductible. Anyone know if that ever went anywhere?

    Personally I’m not in favor of it, but maybe it’ll help you some. Smells too much of government subsidizing lenders to me.

    April 16, 2008 at 2:46 PM #188528
    SDEngineer
    Participant

    PMI is now tax deductible, up to an income limit of 100K (above 100K the deductible phases out, and is gone by 110K joint earnings). It is only effective currently for PMI from 2007 to 2010 (in other words, if you bought in 2005, PMI is not deductible unless you refi).

    April 16, 2008 at 2:46 PM #188550
    SDEngineer
    Participant

    PMI is now tax deductible, up to an income limit of 100K (above 100K the deductible phases out, and is gone by 110K joint earnings). It is only effective currently for PMI from 2007 to 2010 (in other words, if you bought in 2005, PMI is not deductible unless you refi).

    April 16, 2008 at 2:46 PM #188578
    SDEngineer
    Participant

    PMI is now tax deductible, up to an income limit of 100K (above 100K the deductible phases out, and is gone by 110K joint earnings). It is only effective currently for PMI from 2007 to 2010 (in other words, if you bought in 2005, PMI is not deductible unless you refi).

    April 16, 2008 at 2:46 PM #188592
    SDEngineer
    Participant

    PMI is now tax deductible, up to an income limit of 100K (above 100K the deductible phases out, and is gone by 110K joint earnings). It is only effective currently for PMI from 2007 to 2010 (in other words, if you bought in 2005, PMI is not deductible unless you refi).

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