The Balanced Spreadsheet-Financial News, Budget Advice, Debt help, Financial Tips, and other advice

May 22, 2010

PMI Update

Filed under: Uncategorized — thebalancedspreadsheet @ 12:08 pm

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Well I got back from vacation on Tuesday and received word on my quest to remove PMI from our mortgage payments.  The results were disappointing as the appraisal came back at $91,800.  This means that 80% of the price is $73,440 which is below the remaining $77,365 that is still owed.  Safe to say that we are extremely disappointed.  Hopefully by this time next year our property will have recovered somewhat and we will be done with PMI for good.  All I have to say is that if you ever buy a house, I highly recommend putting down 20%. 🙂

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