I have a conventional mtg loan. Is there any way to get ouy of my mtg insurance.?

Asked by Rmsilas, Smyrna, GA Wed May 9, 2012

I owe $101,000. I may have been a few days late 2 or three times since 2000. I;ve refinanced once. I'm 65, getting SS. I could really use the money being deducted.

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Bob Southard, Agent, Kennesaw, GA
Wed May 9, 2012
You have to have paid it down to 80% of the appraised value from the time you took out the loan or get an appraisal showing that you have 20% equity.

If you can't do one or the other then the m.I. will be required.

The occasional late payment shouldn't effect things. It's based on value. Ask your lender about the actual process to get it removed.
Web Reference:  http://www.agentbobsells.com
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, ,
Wed May 9, 2012
You wou have to contact your currnet mortgage company to ask them. Only they can advise you on your options.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
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