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Sergio Said:

How to drop mortgage insurance?

We Answered:

According to federal law (the Homeowners’ Protection Act), it can be canceled the date the remaining principle balance of the loan is first scheduled to reach 80% of the original value of the property, or the date the principle balance actually reaches 80%. There are also stipulations including requirements for a good payment history and no subordinate liens.

Joy Said:

Is it still possible for me to get a mortgage with no money down?

We Answered:

100% financing is no more. Save some money, take out a personal loan if it makes sense (if you have a good income and the places you are buying are cheap then it makes sense, if not it may hurt you getting a mortgage so be careful), borrow from friends and family (better really... FHA also allows a portion of your downpayment to be from gifts) or get a settlement from your divorce. For example, give up the miles and other things for what you'll need as downpayment or get a lawyer that can get you what you need. You should have at least 3% (better if 5% to 20%) of the purchase price. Also, you may not want to bring this up during divorce. There have been cases were things you acquire after the divorce can be grounds to amend the court orders. For example, you may no longer be qualified for spousal support (this is just an example and warning to check with your lawyer).

Good luck with your quest.

Bernice Said:

I've been paying Mortgage Insurance for 3 years now. When can I stop?

We Answered:

Your PMI (mortgage insurance) will only automatically terminate after you've reached 22% equity in your home, EXCEPT when you've had late payments within the last year.

George Said:

does anyone know any cheap car insurance so i can put my 19 year old on my insurance.?

We Answered:

Deano&Stevie, For car insurance the fastest method to get a cheap quote is do a auto policy comparison. If you choose the same coverage amounts, you can get an fast quote to compare against others. Use the same zip code, auto make and model, mileage and driving history to ensure you get an apples to apples comparison. To get mulitple auto quotes, go to http://www.simpleautoquotes.com/Auto-Insurance.html and you can compare all the major auto insurance companies.