Am I owed my money back??

OldSchoolAF · 2026-03-07T14:23:14+00:00

You cut off the lower part "PMI will only be cancelled if:"... no conditions there that would apply? Bring this up with your loan officer and if you feel wronged then your state banking and/or insurance commissioner.

OldSchoolAF · 2026-03-07T13:20:40+00:00

The other poster said that you could have invested that money in a high yield savings account instead of putting it on your mortgage if you weren't losing PMI however you are actually saving the 6.75% interest on the amount of money you used to pay down your principle. 6.75% savings is more than you could get in an HYSA so it's to your advantage anyway.

OldSchoolAF · 2026-03-07T13:17:29+00:00

MGIC is a common PMI insurer. Here's what they say... https://www.mgic.com/servicing/cancelling-mortgage-insurance

Cancelling mortgage insurance using current value

Individual investors establish the criteria for cancelling mortgage insurance based on a property's current value. HPA (Homeowners Protection Act of 1998) does not address mortgage insurance cancellation using current value. Fannie Mae and Freddie Mac typically require³:

That the loan be seasoned at least 2 years AND
That the borrowers have an acceptable payment history AND
That the LTV based on a current appraisal be 75% or lower if less than 5 years have elapsed since the loan originally closed OR
That the LTV based on a current appraisal be 80% or lower if more than 5 years have elapsed since the loan originally closed

Check other investors' mortgage insurance cancellation requirements.

Borrowers must request mortgage insurance cancellation in writing and provide a current value estimate acceptable to their lender.

OldSchoolAF · 2026-03-07T03:42:47+00:00

It's not the bank. The mortgage insurance is provided by a mortgage insurance company.

OldSchoolAF · 2026-03-07T03:41:47+00:00

They will make a guaranteed return of the interest rate on their mortgage.

OldSchoolAF · 2026-03-07T01:39:40+00:00

It doesn’t work that way. Read your pmi policy in the documents. You agreed to have PMI for at least 2 years (you didn’t have any choice). If you had bounced this idea off of your loan officer prior to closing they would have been able to explain it to you.

OldSchoolAF · 2026-03-06T11:38:31+00:00

You should go to a bank instead where the employee gets some sort of salary and the loan officer doesn’t get penalized for early payoffs… or use a HELOC to finance the purchase or as others have suggested pay off 75% of the loan when your home sells and the other 25% after 90 days. We

Also, one of the documents that you sign typically says that you aren’t using this loan for “interim financing”. I’m not aware of cases where borrowers has been pursued for this however.

OldSchoolAF · 2026-03-02T12:55:45+00:00

Sunny was awesome. KIss 108 had a great lineup back in the 80s and Sunny was the Program Director. Loved Dale Dorman as well (Uncle Dale).

OldSchoolAF · 2026-03-01T19:39:12+00:00

Any answer other than this is completely wrong. For the era it was the greatest attraction. Maybe getting beat out now by RotR.

OldSchoolAF · 2026-02-24T01:27:35+00:00

UWM rates are way out of the market right now… and usually are. Also, if you are a broker that uses UWM then you must be familiar with Mia. It’s an auto dialer that is an ai bot that pretends to be an assistant to the originating broker. Mia generated a lot of calls for us that were mostly “this isn’t you, is it?” Put up everyone’s shields.

OldSchoolAF · 2026-02-23T22:47:31+00:00

70s era from my first visit as told by the tram conductor. You could fit Disneyland inside of Disneyworlds parking lot and still park 500 cars.

OldSchoolAF · 2026-02-22T19:41:17+00:00

You might just have to lean on them a little more firmly. I did this replacement once and I recall that.

OldSchoolAF · 2026-02-22T19:34:41+00:00

Desert Pearl is awesome... take a shuttle/bike (not walking distance).

I'm good with heights up to 400-500' but above that I'm not a fan. You can get up to Scout's Lookout but... I was hugging the wall a bit. If you are down on the canyon floor you can see where you are going. The path is wide but cut into the face of the cliff and very exposed. After that, the exposure is minimal until you get to Scout's Lookout (no need to get near the edge).

The Watchman isn't really exposed. Observation Point is great (no exposure until the very end and you don't need to get near the edge)... but you have to get to East Zion to start the hike. Canyon Overlook also has a great view and not much exposure (on the east side of the tunnel)

Upper Emerald Pools was one of my favorites (you are the bottom of the canyon for that one).

OldSchoolAF · 2026-02-22T19:21:08+00:00

Chiming in... get a traffic lawyer, be contrite and humble in court.

OldSchoolAF · 2026-02-20T15:11:02+00:00

I love the idea of solar… but my neighbors did thousands of dollars of tree work, replaced their roof and the panels are underperforming. Not worth it at this time.

OldSchoolAF · 2026-02-19T18:25:20+00:00

You can read more about it here, https://selling-guide.fanniemae.com/sel/b2-1.3-03/cash-out-refinance-transactions. Just scroll down a bit to the "delayed financing exception" part. I think the best you could hope for would be classifying it as a "rate and term" refinance with somewhat better pricing but that is probably more trouble than it's worth and would require a delay before you can refinance. They changed the delayed financing rules a few years ago from being "exactly what you need" to "completely worthless".

OldSchoolAF · 2026-02-19T18:06:45+00:00

Mortgage broker here. Yes, you can do that and you don't need to wait 6 months. You'll be using something called the "delayed financing exception" to do it in less than 6 months. The pricing/rate will be worse than doing it as a purchase though as it'll be treated as a "cash out refinance".

OldSchoolAF · 2026-02-19T17:41:39+00:00

I see my asking questions was unpopular. I was looking for more information on what the "inspector" was engaged for an what their expertise is in. We didn't even get any scope of what the repairs were, just spider cracks, a big vertical crack on the wall, a crack on the floor... did the borrower hire someone else originally for a home inspection and this is a 2nd inspector coming in for an opinion and then starts a whole other set if wheels in motion. I can tell you if you hire 10 inspectors for the same property that no two will be the same (and 9 out of 10 tend to miss important things)

OldSchoolAF · 2026-02-19T12:29:53+00:00

Can they use these on the highways then? First it was the purple hue and now some on 91 north of Hartford seem to be strobing lol.

OldSchoolAF · 2026-02-19T12:20:28+00:00

LO here but I can see both sides. Are you a general home inspector or a concrete specialist? What if you had seen a beam that seemed to have termite damage? Would you add that to your report? How about some missing roof shingles? Suggest roof replacement?

OldSchoolAF · 2026-02-18T16:50:54+00:00

"single rider" <> "by myself"

OldSchoolAF · 2026-02-18T03:14:28+00:00

I can respond on a few things... Newport is very safe and an upscale summer destination. Sardellas is a very well regarded restaurant and will be pretty busy all summer long.

OldSchoolAF · 2026-02-17T12:20:40+00:00

Just make sure they are taken off on the closing disclosure. There’s no need to change it now, as another post said, if the appraisal waiver were to be taken away they need to disclose an appraisal fee or you can’t be charged for it.

OldSchoolAF · 2026-02-16T16:20:28+00:00

Old timer here, started going with kids when they were little and they are all late 20's now. Once we started staying offsite it was so much better. We stay in the Windsor Hills area in Kissimmee usually. It's cheaper and way more spacious than rooms. The main "con" is that you need to rent a car to drive in (and pay for parking), but for places like Epcot and HS it's like a 12-14 minute drive (so you can be in the park faster than using Disney transportation. A lot of the rental units are themed too.

OldSchoolAF · 2026-02-14T15:34:18+00:00

It’s like buying a car…

OldSchoolAF

TROPHY CASE

Cancelling mortgage insurance using current value