“Refinancing is Not Necessary”
Hi Joe,
I hope all is well with you and your family.
We have been discussing our monthly mortgage insurance, do we need to refinance to eliminate it? What are your thoughts, as we owe under $380,000 and I'd think we would appraise over $500,000? Thanks!
With values having increased as they have over the last couple of years, eliminating PMI is most likely pretty simple. In the majority of cases the servicer will require an appraisal be done and if there is sufficient equity, they will remove the monthly mortgage insurance from the mortgage payment.
Comments (4)Subscribe to CommentsComment