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IONEGARM
ParticipantFannie Mae said they would take jumbo conforming at the same rate as the TBA pools, they said this on their conference call yesterday.
Looks like they were serious.
ParticipantFannie Mae said they would take jumbo conforming at the same rate as the TBA pools, they said this on their conference call yesterday.
Looks like they were serious.
ParticipantFannie Mae said they would take jumbo conforming at the same rate as the TBA pools, they said this on their conference call yesterday.
Looks like they were serious.
ParticipantFannie Mae said they would take jumbo conforming at the same rate as the TBA pools, they said this on their conference call yesterday.
Looks like they were serious.
ParticipantIsnt PMI based on the current account balance? Once you hit below 78% original LTV you should be good regardless of current equity.
http://www.privatemi.com/loanoptions/benefits/guide.cfm
http://www.privatemi.com/loanoptions/benefits/cancelable.cfm
“Under federal law, PrivateMI on most loans originated on or after July 29, 1999, will terminate automatically once the mortgage has amortized to 78 percent of the original value of the house. The borrower must be current on all mortgage payments. The lender must tell the borrower at closing when the mortgage will hit that 78 percent mark. Nine out of ten borrowers cancel their PrivateMI within 60 months.”
ParticipantIsnt PMI based on the current account balance? Once you hit below 78% original LTV you should be good regardless of current equity.
http://www.privatemi.com/loanoptions/benefits/guide.cfm
http://www.privatemi.com/loanoptions/benefits/cancelable.cfm
“Under federal law, PrivateMI on most loans originated on or after July 29, 1999, will terminate automatically once the mortgage has amortized to 78 percent of the original value of the house. The borrower must be current on all mortgage payments. The lender must tell the borrower at closing when the mortgage will hit that 78 percent mark. Nine out of ten borrowers cancel their PrivateMI within 60 months.”
ParticipantIsnt PMI based on the current account balance? Once you hit below 78% original LTV you should be good regardless of current equity.
http://www.privatemi.com/loanoptions/benefits/guide.cfm
http://www.privatemi.com/loanoptions/benefits/cancelable.cfm
“Under federal law, PrivateMI on most loans originated on or after July 29, 1999, will terminate automatically once the mortgage has amortized to 78 percent of the original value of the house. The borrower must be current on all mortgage payments. The lender must tell the borrower at closing when the mortgage will hit that 78 percent mark. Nine out of ten borrowers cancel their PrivateMI within 60 months.”
ParticipantIsnt PMI based on the current account balance? Once you hit below 78% original LTV you should be good regardless of current equity.
http://www.privatemi.com/loanoptions/benefits/guide.cfm
http://www.privatemi.com/loanoptions/benefits/cancelable.cfm
“Under federal law, PrivateMI on most loans originated on or after July 29, 1999, will terminate automatically once the mortgage has amortized to 78 percent of the original value of the house. The borrower must be current on all mortgage payments. The lender must tell the borrower at closing when the mortgage will hit that 78 percent mark. Nine out of ten borrowers cancel their PrivateMI within 60 months.”
ParticipantIsnt PMI based on the current account balance? Once you hit below 78% original LTV you should be good regardless of current equity.
http://www.privatemi.com/loanoptions/benefits/guide.cfm
http://www.privatemi.com/loanoptions/benefits/cancelable.cfm
“Under federal law, PrivateMI on most loans originated on or after July 29, 1999, will terminate automatically once the mortgage has amortized to 78 percent of the original value of the house. The borrower must be current on all mortgage payments. The lender must tell the borrower at closing when the mortgage will hit that 78 percent mark. Nine out of ten borrowers cancel their PrivateMI within 60 months.”
Participant** THIS IS NOT LEGAL ADVICE **
If they pursue a trustee sale they give up the right to go after you for the difference. So it won’t matter if it is recourse or non-recourse. (check with a lawyer, I am not one, nor should I be listened to)
There are very few judicial foreclosures done in California and for a dinky condo in SD they probably wouldn’t bother (I say probably just so you don’t think it is a definite thing, but ask around about how many judicial foreclosures are done).
Depending on how convinced you are things are going south you could stop paying on everything and save your duckets (it’ll be 4 months minimum if not more of savings) and try again in 2 years OR renegotiate with loss mit on your current house or condo. The more contact you have with your servicer the more choices you will be aware of.
Just throwing out ideas. I’d call your servicer and see what they offer.
Other ideas include short sales or short refis (might be able to get the condo cash flow positive with the right loan).
Participant** THIS IS NOT LEGAL ADVICE **
If they pursue a trustee sale they give up the right to go after you for the difference. So it won’t matter if it is recourse or non-recourse. (check with a lawyer, I am not one, nor should I be listened to)
There are very few judicial foreclosures done in California and for a dinky condo in SD they probably wouldn’t bother (I say probably just so you don’t think it is a definite thing, but ask around about how many judicial foreclosures are done).
Depending on how convinced you are things are going south you could stop paying on everything and save your duckets (it’ll be 4 months minimum if not more of savings) and try again in 2 years OR renegotiate with loss mit on your current house or condo. The more contact you have with your servicer the more choices you will be aware of.
Just throwing out ideas. I’d call your servicer and see what they offer.
Other ideas include short sales or short refis (might be able to get the condo cash flow positive with the right loan).
Participant** THIS IS NOT LEGAL ADVICE **
If they pursue a trustee sale they give up the right to go after you for the difference. So it won’t matter if it is recourse or non-recourse. (check with a lawyer, I am not one, nor should I be listened to)
There are very few judicial foreclosures done in California and for a dinky condo in SD they probably wouldn’t bother (I say probably just so you don’t think it is a definite thing, but ask around about how many judicial foreclosures are done).
Depending on how convinced you are things are going south you could stop paying on everything and save your duckets (it’ll be 4 months minimum if not more of savings) and try again in 2 years OR renegotiate with loss mit on your current house or condo. The more contact you have with your servicer the more choices you will be aware of.
Just throwing out ideas. I’d call your servicer and see what they offer.
Other ideas include short sales or short refis (might be able to get the condo cash flow positive with the right loan).
Participant** THIS IS NOT LEGAL ADVICE **
If they pursue a trustee sale they give up the right to go after you for the difference. So it won’t matter if it is recourse or non-recourse. (check with a lawyer, I am not one, nor should I be listened to)
There are very few judicial foreclosures done in California and for a dinky condo in SD they probably wouldn’t bother (I say probably just so you don’t think it is a definite thing, but ask around about how many judicial foreclosures are done).
Depending on how convinced you are things are going south you could stop paying on everything and save your duckets (it’ll be 4 months minimum if not more of savings) and try again in 2 years OR renegotiate with loss mit on your current house or condo. The more contact you have with your servicer the more choices you will be aware of.
Just throwing out ideas. I’d call your servicer and see what they offer.
Other ideas include short sales or short refis (might be able to get the condo cash flow positive with the right loan).
Participant** THIS IS NOT LEGAL ADVICE **
If they pursue a trustee sale they give up the right to go after you for the difference. So it won’t matter if it is recourse or non-recourse. (check with a lawyer, I am not one, nor should I be listened to)
There are very few judicial foreclosures done in California and for a dinky condo in SD they probably wouldn’t bother (I say probably just so you don’t think it is a definite thing, but ask around about how many judicial foreclosures are done).
Depending on how convinced you are things are going south you could stop paying on everything and save your duckets (it’ll be 4 months minimum if not more of savings) and try again in 2 years OR renegotiate with loss mit on your current house or condo. The more contact you have with your servicer the more choices you will be aware of.
Just throwing out ideas. I’d call your servicer and see what they offer.
Other ideas include short sales or short refis (might be able to get the condo cash flow positive with the right loan).
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