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Health & Fitness

Just saying

Here's the latest in my life. I have recently refinanced to a 15 year mortgage, about 10 months ago. I received a letter from the credit union stating that when my house value is 80% of the loan, my PMI will end. Also in the letter, it stated because it was so close to the 80%, that I could send them a letter requesting to have the PMI end. All that I needed was a good payment history and a couple other things. I figured how easy could this get? So I sent them a letter. Got the original letter back with a line from it highlighted in yellow. Basically it stated that they COULD ask for an appraisal at my expense. Now I'm pissed... I go to the credit union to state my case. I told them, "Appraisal?, why an appraisal? The loan is 10 months old." After arguing they said that they would write a letter in my behalf to the so called "Board of directors". Well today I got the call and they said even though my credit history is excelllent, blah blah blah, that is was declined. But he said that there's good news. October the PMI will drop anyways... My mouth dropped. I said, "October? Really? So, you guys will charge me $63 a month for 3 months and then it's settled? OR you idiots will have me pay for an appraisal on a loan that is 10 months old, the cost I'm sure will be more then the 3 months due for PMI, just to get the PMI over with? You sir and your credit union are jabronies and I wouldn't trust you even with, well, Woonsocket's finances." Just saying.

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