Home | Ask Your Question | Mortgage Glossary |
|
||||||||
Mortgage Professor about private mortgage insurance: | ||||||||
Canceling Private Mortgage Insurance (1)
November 6, 2000 "Is it true that if my house appreciates to where I have 20% equity, I can have my mortgage insurance cancelled?" "My lender refuses to cancel my mortgage insurance because [Fill in the blank with any of a dozen reasons]. Is this legitimate ... more... Canceling Private Mortgage Insurance (2) January 22, 2001 "I was told that under Federal legislation passed in 1999, private mortgage insurance is cancelled automatically at some point -- borrowers don?t have to do anything. Is that right." Yes. Under one provision of that law, lenders are required to ... more... |
||||||||
private mortgage insurance related definitions |
||||||||
Private Mortgage Insurance, PMI
Private Mortgage Insurance, PMI Loans with an LTV over 80% may require Private Mortgage Insurance (in some cases 75% or 70% when refinancing). If you do not have a 20 percent down payment, lenders will allow a smaller down payment. With the smaller down payment loans, however ... more... Mortgage Broker Mortgage Broker A company or a qualified person that obtains mortgages for borrowers by finding lending institutions, insurance companies or private sources to lend the money. If a person, mortgage broker called a loan officer. A mortgage broker works for you, not for the ... more... |
||||||||
More about private mortgage insurance
Class Action Lawsuits and Unethical Settlements Don't Overpay for a House, Even in Today's Market Stopping Foreclosures Home Equity Loan When Does Refinancing Make Sense? Reasons to Refinance When Rates Are Moving Up What to Really Expect for Closing Costs Can I Sell My Private Mortgage Notes? How to Buy a Home When Your in Your Twenties Set Aside Foreclosure and Decree and Motion for New Trial No Money Down - How To Buy Property With Nothing Down
|
|
|||||||
|