Mortgage Refinance PMI

Ethan Ewing, President Bills.com

May 04, 2012

Mortgage Refinance | What Is PMI

Ethan Ewing, President of Bills.com, gives you free information on PMI, private mortgage insurance. Visit Bills.com for free mortgage quotes and more information.

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Comments (2)


Rose B.
Vancouver, WA  |  February 06, 2012
Dear Bill, You stated PMI doesn't disqualify me...that sounds good, who or what "Bank" would you recommend I work with? Here are my stats, Home value (zillow) $129,000 Current Balance: $185,000 with PMI(Private Mortgage Insurance) Fair Credit, Current interest rate 6.75% Monthly note (never late) $1490.00--- So now what? I spoke quite a few Lenders---only for them to say: "We only go up to 125% of the LTV for Homeowners who have PMI. I have consulted with the HARP people and still, lots of red tape! I wish it were HARPO instead of HARP, I might actually get a loan from Oprah---smile! Can you point me in the right direction? Thanks, Rose
Bills.com
February 07, 2012
The 125% limit was lifted in the HARP 2.0 program. If your original lender/servicer can not qualify you, then you will have to wait till the other lenders are running the automated underwriting systems. The expected date is March 2012, although some might start to take applications earlier. Before you begin to look for lenders, make sure that you have the information about the Mortgage Insurance Company holding on to your PMI. Check back to Bills.com and get a mortgage quote.
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