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Tag Archives: pmi

I Want to Get Rid of PMI But the Bank Wants an Appraisal. – Jody

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I would like to get rid of my PMI, I have paid almost 22% of my original loan value and now the bank is telling me that it can not be removed unless I pay $135 to have a broker come and appraise my home or I have to wait until the antipated date of 10/2014 of when the bank ... Read More »

Should I Take Money From My IRA to Avoid PMI on My New Mortgage? – Dave

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I am 60. I have $200K in IRA. Just bought home 1 yr ago with minimum down on a 5% FHA loan. Value is $265K, balance is about the same. I’m paying ~$1650/mo including PMI/FHA insurance and property taxes at 1%. With interest rates now in the 4% range for 30 year fixed, 3.75% for 20 year fixed and around ... Read More »

What You Need to Know Before You Refinance Your Home to Pay Off Debts

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Consolidating your debt with the equity in your home can be a terrific money-saving strategy. The interest rate may be much lower than you’re paying on your other bills and, if you itemize on your tax return, you can usually deduct the interest you pay – making the effective rate of the loan even more attractive. But what seems like ... Read More »

There Is No Good Debt and Bad Debt. Debt Is Debt.

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Like nails on a blackboard, the mere mention of this notion that there is good debt and bad debt, irritates me. Debt is debt. So I was reading this article on a law enforcement site about debt faced by police officers and it was trying to rationalize the old good debt versus bad debt argument. The concept of good debt ... Read More »

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