Understandable about the masses. But when going over strategies being investments or mortgages, it comes down to following through. We can point out the better “play” but I think it’s a very beneficial point to consider. If you don’t take the steps to invest after then the plan may no longer be any good.
An investment thread is a great idea! I’d like to hear more about your 8% YOY. Your idea, start it up!
Question, I don’t remember where I read it, but I was told that if waiting for the mortgage servicer to remove the PMI on schedule that you should ask for them to remove it early, because they don’t actually remove it at 80% LTV, but at some point in time below that.
Is that a thing or did I dream it? Also, I’m a bit lazy to go find my closing papers from my original loan. I’m sure I’ll find out when I close this refi.
I am middle of a refi right now on my primary residence right now.
FWIW, larger lenders are still operating at full tilt with WFH staff. I locked my rates at 2.625% for 15yr-fixed third week of March soon after the fed drop the rates the second time in the month. It’s a slow process but worthwhile.
I’m a pure noob regarding mortgages so any guidance is appreciated. Here’s my situation and would like input on suggested changes. Primary home, have a 30 yr fixed and my rate is 4.25 and have 25 years left. Also have a rental property that’s on a 5/1 arm in the adjustable period and is 5.25% but dropping on June 1st to 3.25, have 15 years left. Thanks in advance.
it’s all about timing, you have to make that payment that brings it below 80% and they do not do partial month PMI so you’ll contact them as soon as your “below 80%” payment is made. and if you do not contact them they’ll automatically do it at 78-79% depending on the terms.
