Question:
i am purchasing a home for119,000. it appraissed for 142,000.00. i just found out that i will have to pay mortgage insurance on it, when will that go away?
Answers:
It wont. PMI is one biggest rip offs around. It is with you until you refiance or the loan is paid off. These days people are doing second mortgages or " piggy back loans "since you can pay off the second mortgage faster if you want.
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