Received HUD today, PROBLEM WITH PMI, experts help/advice needed ASAP

[SmartMoney]

It's a fair offer, one they didn't have to do. The fact they are willing to make you feel whole says a lot, because monthly MI is not a protected (guaranteed) number. You got in at the right time, because rates are taking a beating with no end in sight.......but seriously......under 4%? They're still pretty darn good.

Seriously, pat yourself on the back for getting ahead of the curve.

[TonyStarksNJ]

Just wanted to update you all, we did sign the docs and follow through. We got a check back for the MI difference less than a week after the loan funded. All in all, this was pretty awesome timing as rates are back above 4%.

[EvanMLO]

Originally Posted by TonyStarksNJ

Just wanted to update you all, we did sign the docs and follow through. We got a check back for the MI difference less than a week after the loan funded. All in all, this was pretty awesome timing as rates are back above 4%.

good for you, the loan officer seemed to at least make a effort to make things right...
at the rate housing prices are going up you should keep a eye out on the comps within your neighborhood, maybe you'll get lucky and get past 80% ltv sooner and put a little extra cash in your pocket....

just to clarify, 78% is when the lender is supposed to remove the PMI on their end, usually you can request the PMI to be removed at 80%. BUT you have to submit that request.

Evan