DEAR BOB: I notice it has been a while since you had any complaint letters about the dreaded PMI (private mortgage insurance) premiums. Perhaps you and your readers might like to know how my wife and I got rid of PMI after the lender first said "no." Although we had about 25 percent equity, because our mortgage was not 24 months old, the nasty lender refused to cancel our monthly PMI premium of about $120. When I phoned and asked to speak with a lender supervisor, after I made a "big deal" of getting her name and location, I explained the lender consequences of my refinancing elsewhere and that I would write a letter to the president of her company explaining how much she cost her firm by refusing to cancel my PMI. The next day she phoned me back to say she had obtained approval ...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.