This topic contains 5 replies, has 5 voices, and was last updated by Anonymous 7 years, 1 month ago.
- February 4, 2011 at 11:45 pm #410955
dear friends now u can get ur
home loan,or Personal LOAN ,
Business Loans or PAY DAY LOANs ,
Pre-approved Loans, education loans etc.,
very easily by this ………..
- April 16, 2011 at 1:20 am #198745
…automatically remove my PMI? I have had a mortgage on my condo I live in for 6 years. I have always paid on time even though value has dropped. My loan was owned by CitiMortgage for several years and a few months ago, I asked them what it would take to get rid of my PMI payment each month. I was told I was scheduled to have it removed in April of 2013, but I could have it removed sooner if I payed down the principle to 78% of the original loan. I recently changed jobs and am in a position to pay down my principle, but my loan is now owned by IBPS. They are not as easy to communicate with. Is it automatic with any bank, that if a loan is payed down to 78% of the principle the PMI goes away? I want to verify that the PMI will be removed before use the money to pay down this loan, otherwise I would rather just pay off my credit cards. Is it the law that PMI goes away if a mortgage principle is payed down to 78% of original loan or was that probably just CitiMortgage’s policy? I have traditional 30 year fixed mortgage, with no second mortgage and always paid the minimum or more, on time, each month.
- April 16, 2011 at 5:16 am #256466
This was way before this recession.
I had to have my loan paid off by 75% at least before they would take off PMI.
At 80% they wanted to charge me to re-appraise my home.
I would imagine that now you would need more.
NOTE: Pay off the credit cards.
Did you know that credit card balances can seriously reduce a credit score?
Ask here how it can affect you.
The only way to use them is to pay them in full each month.
Did you know you might be paying more for car insurance, home insurance, etc by having high credit card balances.
Make life easy for yourself and pay off those credit cards.
Don’t close them. Just keep using them for small things like food or gas and pay in full each month. Bet you’ll notice a difference in your insurance rates within 6 months.
- April 16, 2011 at 6:16 am #257015
There are several ways yo get rid of your PMI. One is to refinance the loan and use your added out of pocket money to lower your loan to value ratio to 80%. Another way is to have your property appraised, if the value has gone up on its own, to show the difference in loan to value. If your property has decreased in value you should avoid both of the previously mentioned suggestions and simply make a separate payment with big red letters denoting the payment is to be applied to the principal only and then have your loan re-reviewed by the lender to make the necessary adjustments. Nothing is automatic.
- April 16, 2011 at 12:13 pm #257301
Unless you have a “high risk” or a government loan the Homeowners Protection Act of 1998 says the lender must cancel your PMI at 78% of the original property value if your payments are current and all outstanding late fees have been paid.. It is not the same for all loans. If your loan was closed prior to 7/29/1999, the lender can require PMI until you reach 75%. The rules are also different if the home was an investment property at the time the loan was closed.
You may still get more bang for your buck buy paying down the credit cards first. If necessary, get a financial adviser look at it.
- September 12, 2012 at 2:01 am #410956
are stated loans available in Illinois please let me know and how much do I need down
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