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Started By
Message
Removing PMI Question
Posted on 9/1/09 at 11:05 am
Posted on 9/1/09 at 11:05 am
So I requested to have my PMI removed from Citi. They came do an appraisal today. The appraisor said that he will not be able to give us a copy. He said we have to contact Citi to get a copy. How long does this normally take? Should I contact Citi tomorrow or should I wait longer?
4
Posted on 9/1/09 at 11:09 am to LSU1018
Dude, these things don't happen overnight. Wait a week & if you haven't heard call them.
Posted on 9/1/09 at 11:10 am to LSU1018
quote:
said that he will not be able to give us a copy
you never received a copy of your own appraisal report?
Posted on 9/1/09 at 11:13 am to Shankopotomus
Citi sends out their own appraisor at my cost so I think I atleast deserve a copy of the appraisal. The appraisor said that he will have the appraisal done by this evening.
Posted on 9/1/09 at 11:21 am to LSU1018
Whoever 'ordered' the appraisal and directly pays the appraiser gets it. If citi ordered it, then they 'own' it so to speak. It's up to them if they want to give you a copy. Silly I know, but that's the way it is generally.
Posted on 9/1/09 at 11:48 am to LSU1018
You should have asked him if a fiver would bump your appraisal a couple of thousand.
Posted on 9/1/09 at 12:23 pm to TigerDeacon
he should have the report to CITI tomorrow. then the will screw you over and you will want to kill them. i personally wanted to drive to dallas today and burn them down. but i didnt
Posted on 9/1/09 at 1:06 pm to displacedhorn
yea I can't stand Citi but I don't really have much control over that.
Posted on 9/1/09 at 2:09 pm to LSU1018
Why the appraisal I was under the impression that the original loan amount is the only number in the equation.Until you get 20% below that amount your stuck with it.
Posted on 9/1/09 at 2:22 pm to redfish99
redfish..nope some lenders require you to pay PMI for a certain amount of time ..
Posted on 9/1/09 at 2:24 pm to displacedhorn
There are like 3 ways to get rid of PMI. The main one that I know about is that if you have been in the house for 2 years, then you can ask to get your PMI removed as long as you have paid 20% down on the original loan value OR if your house appraises at 75% of what you owe.
Posted on 9/1/09 at 8:48 pm to LSU1018
I'm going to make a call to my mortage holder tommorrow.My home is appraised for a lot more than 25% over my balance.I've been in it 6 years,I'll let yall no how easy they let me down.
Posted on 9/2/09 at 7:58 am to redfish99
Yea you have probably thrown a few thousand in the garbage. The mortgage companies don't make it widely known that you can get your pmi removed after 2 years. I'm going to get mine removed and just put that amount on the principal each month.
Posted on 9/2/09 at 8:41 am to LSU1018
quote:
Yea you have probably thrown a few thousand in the garbage. The mortgage companies don't make it widely known that you can get your pmi removed after 2 years. I'm going to get mine removed and just put that amount on the principal each month.
Same here. PMI runs me $68/month and I will put that on the principle once removed. I should break 20% this month or next.
Posted on 9/3/09 at 8:53 am to LSU1018
quote:
The mortgage companies don't make it widely known that you can get your pmi removed after 2 years.
Can you explain how to do this? I just hit the 2 year mark last month.
Posted on 9/3/09 at 9:15 am to DollarBill
Call your mortgage company and tell them that you would like to request getting your PMI removed. They will send you a letter by mail stating all the posibilites of getting it removed.
Posted on 9/8/09 at 9:48 am to LSU1018
Just an update... I did get my PMI removed but am still trying to get a copy of my appraisal. 
The stupid chick from Citi says, "well sir, may I ask why you would like a copy of the appraisal?" I was like, "yea most likely b/c it was MY $385 that paid for the damn thing so I deserve a copy.
The stupid chick from Citi says, "well sir, may I ask why you would like a copy of the appraisal?" I was like, "yea most likely b/c it was MY $385 that paid for the damn thing so I deserve a copy.
This post was edited on 9/8/09 at 10:03 am
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