If you put less than 20% cash down when you purchased your home,
you were required to purchase Private Mortgage
Insurance (PMI) by the lender. This insurance may add from
$25 to $100 to your monthly payment.
You may remove this insurance
if you can prove that the equity in your home exceeds 20% of its
current value. With the significant appreciation we have experience
in the last several years, it is more than likely you can qualify
for this. This is where we can help.
We can provide a
independent appraisal of your home which is what the mortgage
holder will require to eliminate you PMI. You then simply send
a copy of the appraisal to your lender and begin saving on your
monthly
payments. This insurance protects the lender in case of default
on your
loan. It does not provide you with any insurance protection. So
there is
no advantage to keep paying those monthly premiums.
Please contact the PMI professionals today
for more information!