Month: June 2016
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Refinancing homeowner hobbled by appraisal issues
Reader Question: I have appraisal issues. I applied to an online lender a year ago to refinance my mortgage. The loan was approved. The only remaining step being the appraisal. The appraisal came in with a value that was woefully inadequate. The appraiser did not use fair comparables and neglected to perform due diligence in…
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Four ways to attain relief from Private Mortgage Insurance (PMI)
Reader Question: We want to pay down our mortgage loan to eliminate Private Mortgage Insurance. We have the funds to get under the 80% threshold. We have heard some lenders are very uncooperative. Is the lender required to remove it under these circumstances? Chris and Kate D. Monty’s Answer: There is confusion in the…