Month: July 2012
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Checking Out Private Mortgage Insurance Fraud
Reader Question: Monty, my daughter and son-in-law are trying to refinance their home to lower their interest rate. After my daughter contacted their mortgage company, the mortgage advisor said there would be no problem, and they could do it for eleven dollars. This is not their original mortgage company. After further checking, he informed my…
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Dumping Private Mortgage Insurance In This Market
Reader Question: We are about to refinance and are seventy eight hundred dollars away from eighty percent of our home’s assessed value. The PMI balloon payment thing is about sixty five hundred dollars. Should not we (because we can afford it) pay the seventy eight hundred dollars then not pay the PMI? But the real question…
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Homebuilder Puts Screws To Customer
Reader Question: Monty, Thanks for answering my earlier question about not having a set of plans and specifications for our to-be-built home. I wish I had known about your How To Choose A Builder article 3 weeks ago. I gave the builder a deposit and signed a contract, but I have no plans and specs.…