nikiz628
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Post by nikiz628 on Jul 8, 2021 9:30:23 GMT -5
UPDATE RACE #4 RACE #4 | INTEREST RATE | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Truck Loan | 4.8% | $24.945.53 | $18,787.87 | $18,160.88 | -626.99 |
NikiZ628(4) 7/8/2021 $18,160.88 (6/26/19 $25,195 WIRR197) Total Paid in 2021: $2,414.15 Total Amount Paid Off: $7,296.04
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debthaven
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Post by debthaven on Jul 8, 2021 16:08:04 GMT -5
Congrats on being under 50K chiver78 !!! I'm sure it feels fantastic! So you're concentrating on Discover 1? (Don't remember interest rates or when they reset). More importantly ... when's the next windfall?
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chiver78
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Post by chiver78 on Jul 8, 2021 16:51:35 GMT -5
Congrats on being under 50K chiver78 !!! I'm sure it feels fantastic! So you're concentrating on Discover 1? (Don't remember interest rates or when they reset). More importantly ... when's the next windfall? there's another minor bonus hitting sometime in late July. this is one that vests over 3y, and they are changing up how that gets processed this year. so idk how that is actually going to go. the cards are listed in order of rate reset, with the 1st National being a "life of the balance" thing that will sit there til it's paid off. I'll snowball the rest, but I'm in no rush for that one.
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debthaven
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Post by debthaven on Jul 8, 2021 17:12:48 GMT -5
A crazy thought chiver78 ... is this your forever home? Because you seem to be VERY good at fixing places up and then reselling them well ... IF you opted for that, obviously there would have to be something in it for you besides the money ... maybe closer to the beach? or to work? or to the Cape? Whatever matters most to you ...
Dunno, just a thought. :-)
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chiver78
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Post by chiver78 on Jul 8, 2021 17:17:23 GMT -5
A crazy thought chiver78 ... is this your forever home? Because you seem to be VERY good at fixing places up and then reselling them well ... IF you opted for that, obviously there would have to be something in it for you besides the money ... maybe closer to the beach? or to work? or to the Cape? Whatever matters most to you ...
Dunno, just a thought. :-)
I don't think there is a forever home for me. I get antsy. but I hate paying rent. 🤷♀️. I'm not sure what I'm doing next, still trying to figure out what 2020 did to my world. this house is a cozy place to hole up and do just that.
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nidena
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Post by nidena on Jul 8, 2021 18:48:16 GMT -5
I pulled some money from my Home Improvements savings to pay down the snazzy new chair I bought which means that I should be able to pay everything off with the next paycheck. I had been expecting to not be able to do so until August 1st. And it's going to be ~$1400 that gets some interest tacked on. It's intriguing to be at a point where interest is really annoying rather than just a mild nuisance to be endured. So my update includes the little bit of CC balance that I'm carrying over from one cycle to another.
nidena: 7/8/2021 $21,544.83 (8/22/2007 $223,361.20 N453,503,NE648,NPT25)
Come August I can refocus on saving again. I think I'd rather create a mountain to pull from than keep digging holes that I need to fill in.
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nooccar
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Post by nooccar on Jul 12, 2021 13:59:35 GMT -5
Update:
nooccar (2): 7/12/2021 $14,299.08 (11/14/2010 $73,475.09 WU197)
I made an error last fall when estimating how much I needed to save to cover my expenses during the summer when I have no income. The length of my summer break shortened & my expenses went up so I couldn't go by previous years. Thankfully I saved more than I needed so I will be able to continue to make extra principal payments on my mortgage during the summer when I didn't in the past. I feel good watching the balance go down.
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steph08
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Post by steph08 on Jul 16, 2021 9:05:08 GMT -5
UPDATE: steph08 [2] 7/16/2021 $1,331.00 (11/15/2016 $57,941.58 NE139) Bill (Interest Rate) | Start | Previous | Current | Difference | Normal Payoff | Monthly Payment | Big Student Loan (5.08%) | 18,337.66 | 0.00 | 0.00 | - | November 2022 | $298.59 | Small Student Loan (5.7%) | 4,585.95 | 0.00 | 0.00 | - | November 2022 | $81.81 | Truck (2.49%) | 18,995.89 | 1,207.18 | - | 1,207.18 | October 2021 | $416.19 | Van (3.6%) | 8,463.08 | 0.00 | 0.00 | - | October 2022 | $154.49 | CC (0%) | 7,559.00 | 1,643.00 | 1,331.00 | 312.00 | | $76.00 | TOTAL | 57,941.58 | 2,850.18 | 1,331.00 | 1,519.18 | | $1,027.08 |
Paid this update: $1,519.18 Total Paid: $56,610.58 Percent Paid: 97.70% I got tired of the truck loan, so I paid it off. I'm also getting tired of the CC, even though it is at 0%. I might just zero it out after next month's bill.
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ners
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Post by ners on Jul 16, 2021 9:21:55 GMT -5
Update Race 1
65,387.75 (1/3/2011 $97,382.42 MPT5)
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movinonup
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Post by movinonup on Jul 16, 2021 22:14:07 GMT -5
chiver78 I took the liberty of adding another column to your table from April, in case you still want to add your interest rate in its own column. I'm not sure if you have posted a table since then. In case you want to know how to do it, you copy the code for a single cell ( [td style="text-align:center;border:1px solid rgb(0, 0, 0);padding:3px;"]today[/td] [/b]is what I used) and add it just before the tag for the end of a row ( [/tr][/b]) on the BBCode tab. This will put the new cell at the end of the row. creditor | start | previous | today | today | Citi #2 | $4,394.29 | $4710.72 | $4909.88 | today | Discover #1 | $16,553.65 | $18,080.41 | $17,779.06 | today | Discover #2 | $14,278.26 | $5,630.84 | $5,502.24 | today | 1st National | $24,168.63 | $19,752.47
| $19,437.93 | today | BofA #1 | $11,813.71 | $14,560.00 | $14,410.00 | today | SMCU | $11,958.93 | $0 | $0 | today | American Express | $12,520.02 | $0 | $898.77 | today | Chase | $9586.41 | $0 | $0 | today | Citi #1 | $12,826.10 | $0 | $0 | today | BofA #2 | $7820.39 | $0 | $0 | today | BCU | $12,304.92 | $0 | $0 | today | total | $138,495.31 | $62,734.44 | $62,937.88 | today |
chiver78 4/2/21 $62,937.88 (5/9/20 $138,495.31)
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chiver78
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Post by chiver78 on Jul 17, 2021 6:49:18 GMT -5
thanks...I won't be needing this table at all before too long. 😉
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seriousthistime
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Post by seriousthistime on Jul 17, 2021 8:18:39 GMT -5
chiver78 I took the liberty of adding another column to your table from April, in case you still want to add your interest rate in its own column. I'm not sure if you have posted a table since then. In case you want to know how to do it, you copy the code for a single cell ( [td style="text-align:center;border:1px solid rgb(0, 0, 0);padding:3px;"]today [/td] [/b]is what I used) and add it just before the tag for the end of a row ( [/tr][/b]) on the BBCode tab. This will put the new cell at the end of the row. creditor | start | previous | today | today | Citi #2 | $4,394.29 | $4710.72 | $4909.88 | today | Discover #1 | $16,553.65 | $18,080.41 | $17,779.06 | today | Discover #2 | $14,278.26 | $5,630.84 | $5,502.24 | today | 1st National | $24,168.63 | $19,752.47
| $19,437.93 | today | BofA #1 | $11,813.71 | $14,560.00 | $14,410.00 | today | SMCU | $11,958.93 | $0 | $0 | today | American Express | $12,520.02 | $0 | $898.77 | today | Chase | $9586.41 | $0 | $0 | today | Citi #1 | $12,826.10 | $0 | $0 | today | BofA #2 | $7820.39 | $0 | $0 | today | BCU | $12,304.92 | $0 | $0 | today | total | $138,495.31 | $62,734.44 | $62,937.88 | today |
[/quote] This is good info. Thanks, movinonup. I've puzzled over it and I'm able to add columns but not with the gridlines. I'm going to copy your directions and post them on the WIR Savers thread.
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jdnstl
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Post by jdnstl on Jul 17, 2021 10:43:54 GMT -5
UPDATE
Jan 1 21 Jul 17 21
CC1 – 0.00 0.00
CC2 – Closed
CC3 – 0.00 0.00
CC4 – Closed
CC5 – 1,500.00 400.00
CC6 – 0.00 0.00
CC7 – 0.00 0.00
CC8 - 0.00 0.00
Auto1 – 0.00 0.00
Auto2 – 0.00 0.00
TOTAL - 1,500.00 400.00 Difference of -$1,100.00
EF/Savings – $1,400.00 $2,000.00 Difference of $600.00
jdnstl: 7/17/21 $400.00 (1/9/08 $42,966.26 S34)
Total ptd - $42,566.26
Percent ptd – 99.1%
Long overdue update…
This year has been crazy. I had to take a break from the boards because every stressor in the world was thrown at me all at once. The great Texas freeze in February caused our pipes to freeze and burst, causing major damage (like most everyone else in the state). This meant 3 months waiting for repairs to be done and of those 3 months, we were in a hotel for 2 months. I say “we” but it was really just DH since the kids and I spent 5-6 weeks at my sister’s house in the other side of the state while she was in the hospital (she stayed for 70 days and then went to rehab and has been to the ER twice since). I’ve been slowly unpacking and getting the house back in order, this includes getting finances back on track. This race will be won in a month or two. FINALLY, after 13 years! You think it’s been long enough? LOL.
I was lucky to work from home for most of the pandemic but in June we had to report back full-time to the office. Working out childcare has not been easy and my pandemic baby is now sick all the time due to the germs he is getting at daycare. I know it will eventually slow down as his immune system picks up, it’s just a lot of WFH days as we juggle it all.
Stay safe everyone!
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debthaven
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Post by debthaven on Jul 17, 2021 17:56:04 GMT -5
Ooh chiver78 that sounds intriguing! Did you rob a bank? ;-)
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chiver78
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Post by chiver78 on Jul 17, 2021 18:07:50 GMT -5
Ooh chiver78 that sounds intriguing! Did you rob a bank? ;-) LOL!! definitely not. but the end is definitely in sight. I'm approaching a number that was my original start balance, while pulling in a base salary that is almost double and has way better bonuses. I got this. 🙃
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nidena
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Post by nidena on Jul 21, 2021 8:37:38 GMT -5
I pulled some money from my Home Improvements savings to pay down the snazzy new chair I bought which means that I should be able to pay everything off with the next paycheck. I had been expecting to not be able to do so until August 1st. And it's going to be ~$1400 that gets some interest tacked on. It's intriguing to be at a point where interest is really annoying rather than just a mild nuisance to be endured. So my update includes the little bit of CC balance that I'm carrying over from one cycle to another. nidena: 7/8/2021 $21,544.83 (8/22/2007 $223,361.20 N453,503,NE648,NPT25)Come August I can refocus on saving again. I think I'd rather create a mountain to pull from than keep digging holes that I need to fill in. As it turns out, I was half correct. On my Visa, in the past month, I incurred the charge for the chair ($3500, and intentional), the vet ($90, because they don't take AmEx), and ancestry.com ($200, that I called about today and had canceled/reversed because I haven't used it); and will have ~$1000 that gets interest added to it but it I'll be able to pay it off this Friday. On the AmEx, I paid off the last balance on time and received no interest charge; and the bill that just came out yesterday will get paid off on Aug 1st. That will put me back on track.
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Minnesotagirl7
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Post by Minnesotagirl7 on Jul 21, 2021 9:36:50 GMT -5
Update!! | 3/18/2020 | 6/18/2021 | 7/21/2021 | Total Difference | Mortgage | $403,476.12 | $304,003.70 | $299,824.77 | $103,651.35 |
Diff Last Post | $4,178.93 | Total Amt Pd | $103,651.35 | Total % Pd | 25.7% |
Minnesotagirl7 [6]: 7/21/21 $299,824.77 (3/18/20 $403,476.12 C220) SO excited for this update!!! We hit over $100,000 paid off, 25% paid off, and the balance on our mortgage is under $300k. Woo hoo!!! These are the kinds of milestones that really motivate me. Mortgages are such a big hurdle in the debt race, and can seem insurmountable at times. Celebrating small wins along the way keeps me going. And I know that shiny $0 at the end is going to feel amazing!
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nidena
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Post by nidena on Jul 21, 2021 11:25:44 GMT -5
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chiver78
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Post by chiver78 on Jul 21, 2021 14:35:14 GMT -5
I'm in an interesting spot, looking for opinions on what to do. real estate prices have skyrocketed everywhere, here is no exception. I'm seeing current values for my home coming in just under $500k. that's nuts, but it gives me a new option - having my home valued by the mortgage company's independent agent to possible remove the PMI requirement. what's involved is I would pay a $150 fee for this, and if it parses out, then I'm off the hook for $225/mo PMI. if it doesn't parse out, then Chase retains the original purchase price value for the PMI calculation. I could repeat the process as I pay off more of the balance, at the cost of another $150.
currently, my balance is $396k. the magic number I need is $495k, and the various online searches like Redfin, Zillow, etc are giving me about $497k. so I'm *right there* to even consider asking about it.
what I'm considering doing is taking my small bonus and paying about $6k straight to principal instead of my race balance. lowering the balance to $390k moves the magic number to $487k, which I think is a more sure bet to meet.
WWYD? I'd love to get rid of the PMI number before the market crashes and I'm stuck with it.
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debthaven
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Post by debthaven on Jul 21, 2021 16:49:03 GMT -5
chiver78 personally I'd continue to pay down the debt and revisit the PMI in 6 months or a year. With that 6K you could pay down half of Discover 1, or all of Discover 2. You're doing great, but that would be my priority. Plus you'll have made even more improvements to the house by then. For now I think it's too much of a gamble. The $150 fee doesn't matter, but it would be a great shame to put 6K on the mortgage instead of the cards, and still have PMI. What makes you think the market will crash? I'm not convinced, at all. And think about how AMAZING it will feel to go from $49,348.12 to $43,XXX! You'll be under 40K in a couple of months!!! Keep to the plan. Minnesotagirl7 that's AMAZING progress! Congratulations!
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nidena
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Post by nidena on Jul 21, 2021 17:29:01 GMT -5
I would pay the $150 to see where you stand. You may not need to pay $6k to principal to make things better.
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nikiz628
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Post by nikiz628 on Jul 21, 2021 22:04:02 GMT -5
I would pay the $150 to see where you stand. You may not need to pay $6k to principal to make things better. I vote this too chiver78. Then if you aren't there, you are only out $150. And you'll know where you stand to revisit it in 6 months.
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nikiz628
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Post by nikiz628 on Jul 21, 2021 22:18:33 GMT -5
I am also in a situation that I would love some honest feedback on..
My car.
I am currently driving a 2013 Acadia SLE-1. I currently owe $4,502.95 on the loan with a 4.25% interest rate. KBB is giving a trade in value range right now of $8,341-$11,194 (with $9,768 being the average). My payment is $420 a month, because at one point H's truck was also on this loan but we sold it and paid off what his balance was. I kept the payment the same to get it paid down faster.
Now here is my current internal battle. Cosmetically my car is in pretty great condition, with just a few minor scratches and a small dent/hole in the dash (previous owner probably had an aftermarket navi attached). I just worry about the car's mechanical condition. It's okay right now but it's hitting that point where things are starting to have issues. The power lock quit working in my driver door. The car jerks a little (very sporadically) when it shifts gears like the tranny is starting to go out. I've had minor issues with some valves as well, but those don't concern me as we can fix them pretty cheaply and easily. It's the big stuff I am worrying about.
Do I keep the SUV, pay it off at the speed I am now (decreasing about $400 a month), and hope that no major issues arise that would affect the trade in value later on? Do I trade it in now while it's still worth a lot more than I owe on it and get a new to me car with potentially a lower payment? The thought of getting so close to paying this loan off and not having a car payment excites me. But the fear that the value isn't going to be there when I need it to is also freaking me out a bit.
WhatWouldWIRRDo?
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chiver78
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Post by chiver78 on Jul 22, 2021 6:31:12 GMT -5
whats the mileage on the SUV, Niki? I've also got a 2013, but mine is about 175k miles at this point. I put about $1100 into it a couple months ago, figuring I will drive it til it refuses to move. since I WFH full time now, I really don't go anywhere anymore. this decision really is a balancing act.
thanks, all. I asked them to send me more info on the process, it's coming by snail mail. what I'd love to know is if I have an opportunity after the realtor-determined value comes back, if I don't meet the 80%LTV, to make a lump sum payment to meet it. or, do I have to already be there when I initiate the process? I'm not doing anything today, definitely want to take a closer look at the fine print.
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nikiz628
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Post by nikiz628 on Jul 22, 2021 13:43:37 GMT -5
whats the mileage on the SUV, Niki? I've also got a 2013, but mine is about 175k miles at this point. I put about $1100 into it a couple months ago, figuring I will drive it til it refuses to move. since I WFH full time now, I really don't go anywhere anymore. this decision really is a balancing act. thanks, all. I asked them to send me more info on the process, it's coming by snail mail. what I'd love to know is if I have an opportunity after the realtor-determined value comes back, if I don't meet the 80%LTV, to make a lump sum payment to meet it. or, do I have to already be there when I initiate the process? I'm not doing anything today, definitely want to take a closer look at the fine print. 116,445 at last glance
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nidena
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Post by nidena on Jul 22, 2021 14:37:38 GMT -5
Once the chip shortage works itself out, the vehicle shortage will, too which means trade-in values will go back to what they were. With a vehicle that is more than a decade old or nearly so, and more than 100,000 miles, I don't know that I would even consider a trade-in. It would be different if it were a Toyota or Honda sedan of some sort but it's an SUV.
I would drive it until it's dead while budgeting for major repairs. Even a $4000 tranny replacement is cheaper than a $30,000 car.
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nidena
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Post by nidena on Jul 22, 2021 14:47:53 GMT -5
For nearly a year, my only furniture has been my bedroom stuff, some folding chairs, a couple folding tables, and other random pieces. Today, I went and ordered my first real piece of furniture for the house. It's a twin sleeper/chair 1/2 that will be custom made based on my choice of top and bottom cushions, chair back, feet, arms, and fabric. I'm really looking forward to it. The color is a beautiful, deep turquoise. This piece, like all the ones I plan to get, should last me decades. It cost $3500 and I'll have it paid off long before I receive it. Creation and delivery time: 22-30 weeks. It took me six weeks but the chair will be paid off tomorrow.
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seriousthistime
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Post by seriousthistime on Jul 22, 2021 15:15:53 GMT -5
thanks, all. I asked them to send me more info on the process, it's coming by snail mail. what I'd love to know is if I have an opportunity after the realtor-determined value comes back, if I don't meet the 80%LTV, to make a lump sum payment to meet it. or, do I have to already be there when I initiate the process? I'm not doing anything today, definitely want to take a closer look at the fine print. Is it a conventional loan? I thought they'd lowered the LTV requirement to 78% before you can get rid of MIP.
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Maryland Monroe
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Post by Maryland Monroe on Jul 22, 2021 19:36:04 GMT -5
I drove past one of those buy here pay here types of car lots today. There was not one car on the lot. In the past, it was always full.
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chiver78
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Post by chiver78 on Jul 22, 2021 22:17:05 GMT -5
thanks, all. I asked them to send me more info on the process, it's coming by snail mail. what I'd love to know is if I have an opportunity after the realtor-determined value comes back, if I don't meet the 80%LTV, to make a lump sum payment to meet it. or, do I have to already be there when I initiate the process? I'm not doing anything today, definitely want to take a closer look at the fine print. Is it a conventional loan? I thought they'd lowered the LTV requirement to 78% before you can get rid of MIP. yes, conventional loan. I hadn't heard the 80-to-78 thing. when I called, the woman I spoke with said specifically that the number I needed was $496k (and change. rounding all numbers for ease of posting..) which works out to 80. I'm curious to know your source for that?
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