how do i get my personal mortgage insurance cancelled,as i have more than 50% equity.The lender says no.?
88672
Contact your state Banking Department.  They will have information on your state's lending practices.  If your mortgage has such a restriction, it will be worth your time to refinance and get a lower rate and no mortgage insurance.  Good luck!
585996
technically, yes , you should notify the company, but if you do, they will increase the rate- or worse- drop your coverage- because an un-ocuppied house is more dangerous to insure beacuse it is un-ocuppied and could be trashed by vandals or whatever-- the thing i would do-on a practical basis is nothing- i have sold and bought 3 homes over the last 5 or 6 yrs- primary residences- due to job changes etc. and have told the companies nothing- because the realtor told me they could increase my rate, or worse they could cancel your coverage, since they dont want to insure an un-ocuppied home- this seems to be true- i did not want to find out the hard way- reagardless of what is legal or not- on their part or mine- AS A PRACTICAL MATTER- DO NOTHING- DO NOT TELL THE INS CO ANYTHING- JUST LIST THE HOUSE FOR SALE AND WHEN ITS SOLD- GO THROUGH YOUR CLOSING- TRUST ME- I AM AN ETHICAL PERSON- YET IN THIS CASE IF YOU CALL THE INS CO- YOU WILL JUST CREATE PROBLEMS FOR YOURSELF--- I AM A RETIRED INDEPENDENT INSURANCE BROKER,& CFP, & CPA, & LUTCF- TRUST ME- I KNOW WHAT I SPEAK OF- TALK TO YOUR REALTOR TO DOUBLE CHECK IF YOU WANT TO- GOOD LUCK TO YOU !!!!!!!
948475
Go back and read what you signed when you got the loan.  That will be in the stack of papers in the file in the box at the back of the closet... the file the title company gave you.\n\nit will be outlined there.  You may be able to get it done by paying for a new appraisal, to show that the lender is only carrying less than 75% of the current value. \n\nIf you do go through the expense of an appraisal, make sure to get the PMI off of your payment at the same time.  That will probably benefit you more than getting the escrow account removed.
718068
I've done it before.  I just had my lender send a letter saying I didn't qualify for financing.  I even got my earnest money refunded.
698950
i currently work in loans at a bank, and along with her mortgage she can also get a home equity if she has equity in her home, buying for less than the property value, also need to check for covenants to add on to her home, there are lots of options out there, maybe she needs to get a second opinion from another bank not involved if the current one doesn't want to help. good luck!
346236
Holy High Fees Batman!!!!!\n\nYeah...you definitely need to kick that company to the curb.  I am surprised your Realtor has not told you to do that yet (if you have one).\n\nIf you would like a much lower quote on financing at a much, much lower rate, you can feel free to contact me at timothy.kazee@americanhm .com and we can talk.  Talk to you soon!\n\nI still cannot believe that deal.  Those guys should be put our of business.  Also, don't let them give you any excuses on this offer.  There are NO excuses for this whatsoever.  I wou7ld recommend not even calling them anymore at this point and not taking calls from them.
1073728
Before removing your self from mortgage, why did you leave the property?\nGo to a lawyer and take his advise pronto.
865552
you likely have a bunch of equity in your home.  The value of your house has likely risen plus you have been paying into your mortgage.\n\nTalk to the financial institution that provides your mortgage, you'll likely qualify for a very large loan.
192229
the easiest way to do that is to add in some cash and refinance as 1 mortgage.  Whoever gave you the 2nd loan did something that really didnt help you out at all.
1149842
See a professional mortgage consultant, there are Lenders that will do five times salary, self cert etc, but your personal circumstances have to be considered.  I wouldn't get involved with teling lenders about lodgers, seek professional advice sweet or you could fall at the start.  K
1103549
Not to contradict one of the other answers here, but PMI is applied when the first mortgage is over 80% loan to value (not 70%). In simple terms, if your home is worth $100,000 and your first mortgage is $80,000 or less, you should have no PMI.  \n\nTo have the PMI removed, there are some options.  First, you should call the mortgage company and ask them whether or not they require a full appraisal (some companies only require a BPI - Broker's Price Opinion, which should cost less than $100).  If they do, ask them for a list of the approved appraisers in your area.  You should then be able to go to your local lender for the HELOC (Home Equity Line Of Credit) and ask that lender to use one of the appraisers on the list.\n\nAnother option would be to ask your lender to have the appraisal done (then they can remove your PMI), and then go to your lender with that appraisal.  If the appraiser who does the job is on their list, it should be easily usable.\n\nThird option, but probably most expensive, would be to go to your lender (with your current loan information) and ask what benefits there are for you refinance.  This could work to your benefit if you either have a higher interest rate (your rate will go down on the first mortgage with a lower loan to value ration) or if you have an ARM (Adjustable Rate Mortgage) that will be adjusting soon.\n\nMost importantly, don't forget that the HELOC or second mortgage you get will have a higher interest rate.  In most cases, though, it's a small bit higher for total payments than your first mortgage plus your PMI.  You make up for this with the interest deductions you can take on the second at the end of the year.  Make sure you ask your accountant or CPA first to get all of the details on this.\n\nBest of luck to you - you seem to have your ducks in a row, and your plan should work well for you.\n\nSean
671428
You should contact the lender (the holder of the mortgage) for help.  They can advise.  They are the REAL owner of that house.\n\nYou have no reason to want to enter the house, so don't.  Force a sale of the house or have your ex-bf refinance and buy you out.
691588
Some of these answers are incorrect.  If you go with a FHA insured reverse mortgage there is no way anyone will ever kick you out of your home.  FHA loans require a one time 2% fee in the closing costs to cover you incase the lender is bought or goes bankrupt.  They are designed so that you will always have equity in your home in the time that you want to sell the home or you pass away.\n\nReverse mortgages aren't for everyone but if you are over 62 and your heirs think it's more important for you to live a good life rather than inherit 100% of your equity it is a good choice for you.\n\nThe only drawback to it is that you are not leaving the full amount of your equity to your heirs.  I specialize in reverse mortgages and my company is the largest reverse mortgage originator in the Southwest. We are also licensed to do loans nationwide.\n\nSome good websites to check out are \n\nwww.reversemortgage.org\nand\nhttp://www.aarp.org/money/revmort/\nand\nwww.griffinloans.com\n\nAlso feel free to contact me if I can be of any help.  I would be glad to send you some free information.  You can contact me through this email or bburns@griffinloans.com
902726
Sell your home quickly and walk away with the $60,000 equity in it.  $60,000 is better than nothing, which is what you will get if you wait any longer.\n\nHave you tried to get a HELOC?  You could take out money from that and pay off your arrears to get yourself out of foreclosure.
868386
Go to your bank, find out about home equity loans, you will have to know if there is equity in your house though, also refinancing, you can go to yahoo and find out also google, but your local bank should have something that you can do. or either the mortgage company you are with. give them a call, they should also be able to help you with that.
556857
so you have your own mortgage company?  I can probably help you steamline your process email me at taustin288@gmail.com and we can probably work out something
130100
PMI is evil. Don't pay it. It is a forced insurance that is way overpriced. Do an 80-10. There is a slightly higher rate on the last 10%, but it is a competitive rate. The PMI is nothing you get to shop around for and therefore can't get a good rate.\n\nAsk your loan officer, or mortgage broker or whomever you are using to give you a good faith estimate for both. You will find the 80-10 is much better.\n\nPMI is evil. Not convinced yet? lets say you pay it off 5% and the house increases by 10% in that time. Should be a cinch to get the PMI removed right? 75% LTV ratio. WRONG, they will not remove it without a fight that usually consists of paying for it for quite a while. Just don't get it in the first place!