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Is there a way to recover PMI I paid ahead?

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Posted: Mon Apr 20, 2009 7:41 pm   Post subject: Is there a way to recover PMI I paid ahead?   I purchased a home and at the time was not aware that they charged me for 5 years ahead on PMI. Due to the state of the ecomony my home is no longer worth the value at which I bought it. Is there a way to recover the PMI I paid ahead?	jessjomi New member Joined: 20 Apr 2009 Posts: 1 1.60 Dollars($)
Posted: Mon Apr 20, 2009 11:05 pm   Post subject:    PMI is coverage to protect the lien holder when you owe much more on the home then it's worth. It's removed when your loan to value is around 80%. So the value of your home dropping is not a good thing for you as it will require PMI to remain longer. _________________ Register Now to have your Insurance queries solved.	tcope1 Guest
Posted: Tue Apr 21, 2009 6:06 am   Post subject:    WHEN PERSON ACHIEVES 22% EQUITY IN THE HOME (ORIGINAL PROPERTY VALUE) AT THAT MOMENT YOU WILL BE ABLE TO TERMINATE YOUR PMI. But for this thing you need to be current on your mortgage payment. One can request cancelation of PMI once person's equity crosses beyond 20 %. _________________ www.Parthaconsultancy.info Its my personal website.	amit Senior member Joined: 25 Jan 2009 Posts: 366 8.19 Dollars($)
Posted: Tue Apr 21, 2009 7:05 am   Post subject:    Hi tcope.. Quote: Is there a way to recover the PMI I paid ahead? I guess recovering the PMI would be tough now. Won't he be left with the only option of consulting an attorney? Steven	steven Senior member Joined: 02 Feb 2006 Posts: 1553 215.65 Dollars($)
Posted: Wed Apr 22, 2009 9:06 am   Post subject:    Quote: Is there a way to recover the PMI I paid ahead? What are you intending to do with the house? Further, how long you are in possession of the property?	simon Senior member Joined: 28 Sep 2005 Posts: 550 93.55 Dollars($)

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