PMI bullshite - Page 2 - TigerDroppings.com

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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
32172 posts

re: PMI bullshite


I've done it every year for 6 years now. Only lost money once and that was during the crash.







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CajunTigerBabe
LSU Fan
Lafayette
Member since Sep 2012
207 posts

re: PMI bullshite


quote:

If you re-finance do you have to start over and pay off 20% of the refi amount or is it still 20% of the original loan amount?


When you refinace, you go by appraised value. So, in order to get out of PMI on a refi, you must have at least 20% equity in the home. This is determined by the appraisal.






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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
6316 posts

re: PMI bullshite


[quote let me know when you sell it for the 120k and you invest in real estate hoping it appreciates in value, when you buy it it's worth exactly what you paid[/quote]

Just had an investor buy 12 properties at 2.4m. We value them at 3.5m based on comps. He is keeping two and 10 are going on market, I expect to get 2.4-2.7 for 10 of 12 I'm listing.

So...you're dumb






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
70179 posts

re: PMI bullshite


I bet you idiots think ring appraisals mean something too





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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
32172 posts

re: PMI bullshite


Um no. That's relevant to the conversation how? It's ok to be wrong. Stop digging your hole.





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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
6316 posts

re: PMI bullshite


Now now he might not be derailing...

You planning on going VA or FHA on that ring?






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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
32172 posts

re: PMI bullshite


I'll borrow against my lihtc funds and tax credits





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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
15773 posts

re: PMI bullshite


quote:

I just bought a house last week for $50,000 and it appraised for $120,000. It's called real estate investing.








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