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Home › Forums › Closed Forums › Buying and Selling RE › dropping a PMI off of a mortgage-countrywide says no

Viewing 11 posts - 31 through 41 (of 41 total)
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  • April 16, 2008 at 4:05 PM #188650
    bobby
    Participant

    here’s an idea. Fork over the $325 for the appraisal. If the house value is significantly lower than the loan, threaten to walk. They may actually reduce the loan or interest to the point where it offsets the PMI.
    the other option is to buy another house then let the current one goes to foreclosure.

    April 16, 2008 at 5:30 PM #188674
    temeculaguy
    Participant

    If your house is in so cal, no matter if you, countrywide or daffy duck chooses the appraiser, the value will not have risen. Even if you pay it down to 80% of the original loan the liklihood that it wont still be underwater isn’t good and you will have a fight on your hands to get rid of the pmi, check into the details of that law, I’ll bet there is a clause for value loss unless the lawmakers were drinking the kool aid. How far off were you? did you put 15% down? 10%, 5%, 0%, if it was 15% it may be worth your while to look into your options, if it was 0%, get used to the PMI.

    April 16, 2008 at 5:30 PM #188694
    temeculaguy
    Participant

    If your house is in so cal, no matter if you, countrywide or daffy duck chooses the appraiser, the value will not have risen. Even if you pay it down to 80% of the original loan the liklihood that it wont still be underwater isn’t good and you will have a fight on your hands to get rid of the pmi, check into the details of that law, I’ll bet there is a clause for value loss unless the lawmakers were drinking the kool aid. How far off were you? did you put 15% down? 10%, 5%, 0%, if it was 15% it may be worth your while to look into your options, if it was 0%, get used to the PMI.

    April 16, 2008 at 5:30 PM #188726
    temeculaguy
    Participant

    If your house is in so cal, no matter if you, countrywide or daffy duck chooses the appraiser, the value will not have risen. Even if you pay it down to 80% of the original loan the liklihood that it wont still be underwater isn’t good and you will have a fight on your hands to get rid of the pmi, check into the details of that law, I’ll bet there is a clause for value loss unless the lawmakers were drinking the kool aid. How far off were you? did you put 15% down? 10%, 5%, 0%, if it was 15% it may be worth your while to look into your options, if it was 0%, get used to the PMI.

    April 16, 2008 at 5:30 PM #188737
    temeculaguy
    Participant

    If your house is in so cal, no matter if you, countrywide or daffy duck chooses the appraiser, the value will not have risen. Even if you pay it down to 80% of the original loan the liklihood that it wont still be underwater isn’t good and you will have a fight on your hands to get rid of the pmi, check into the details of that law, I’ll bet there is a clause for value loss unless the lawmakers were drinking the kool aid. How far off were you? did you put 15% down? 10%, 5%, 0%, if it was 15% it may be worth your while to look into your options, if it was 0%, get used to the PMI.

    April 16, 2008 at 5:30 PM #188741
    temeculaguy
    Participant

    If your house is in so cal, no matter if you, countrywide or daffy duck chooses the appraiser, the value will not have risen. Even if you pay it down to 80% of the original loan the liklihood that it wont still be underwater isn’t good and you will have a fight on your hands to get rid of the pmi, check into the details of that law, I’ll bet there is a clause for value loss unless the lawmakers were drinking the kool aid. How far off were you? did you put 15% down? 10%, 5%, 0%, if it was 15% it may be worth your while to look into your options, if it was 0%, get used to the PMI.

    April 16, 2008 at 9:14 PM #188738
    PadreBrian
    Participant

    Yeah, forget it. You are stuck with the pmi for a few more years. Just deduct it off the taxes, and have a beer.

    April 16, 2008 at 9:14 PM #188758
    PadreBrian
    Participant

    Yeah, forget it. You are stuck with the pmi for a few more years. Just deduct it off the taxes, and have a beer.

    April 16, 2008 at 9:14 PM #188792
    PadreBrian
    Participant

    Yeah, forget it. You are stuck with the pmi for a few more years. Just deduct it off the taxes, and have a beer.

    April 16, 2008 at 9:14 PM #188801
    PadreBrian
    Participant

    Yeah, forget it. You are stuck with the pmi for a few more years. Just deduct it off the taxes, and have a beer.

    April 16, 2008 at 9:14 PM #188805
    PadreBrian
    Participant

    Yeah, forget it. You are stuck with the pmi for a few more years. Just deduct it off the taxes, and have a beer.

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