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Rate Trends |
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Sample Cancellation
Letter
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When your loan has
reached 75%-80-% loan to value because of appreciation or pay down of your
loan balance, with no
late pays, then there is a chance you may be able to remove your PMI.
The first step is call or
write to your loan servicer (not the PMI company) and ask
for their PMI removal policy.
Loan Servicer
Loan Servicer Address
Anywhere, State ZIP
Loan #:
Your Social security #:
Your Name:
Your Address in question
Dear Sirs:
Property address:
I understand that I am no longer obligated to carry my private
mortgage insurance after my loan-to-value ratio has reached a
threshold of less than 80%.
Please inform
as to the steps necessary to drop my PMI.
Thank you,
Your Name
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At this point
you will probably have to provide an appraisal, or Brokers Price Opinion.
Make sure that you get the guidelines on what is acceptable before you go
out and pay for this. Your loan servicing company will no doubt give you a
list of acceptable appraisers.
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