PMI insurance in California

[Shay-Pari'e]

Originally Posted by safeber

jsaautomotive,

If you adjust your profile to accept PM's I will pass on more detailed info about PMI.

I know this may come as a surprise to you, but you really do not need to "PM" issues regarding PMI.

It is kind of like a "DUH!"

[pojo2]

Heck I think we would all like to know the info if it is any different thatn has already been posted. Or is it that you be soliciting in some manner??

[JSAautomotive]

Thanks Safeber....

I didn't realize you needed to "turn on" the PM functions of this website. I'm on some classic car forums and it has the PM stuff already enabled. Wasn't aware mine wasn't enabled. Thanks in advance for any info you might have. Really appreciate it.

John

[JSAautomotive]

I find this a very interesting topic, because I'm sure many people are probably in the same situation I'm in. Most people wouldn't say no to saying some $100-300 a month on their mortgage.

I've carefully read the congressional bill where it talks about the term "original value". This is where the brass ring can be obtained. Here is an excerpt from the Congressional bill.

"(10) ORIGINAL VALUE- The term `original value', with respect to a residential mortgage, means the lesser of the sales price of the property securing the mortgage, as reflected in the contract, or the appraised value at the time at which the subject residential mortgage transaction was consummated."

My fiance' is taking this to her employer today (an attorney) to review our assumptions. Now I'm no ehjukated big time lawyer (high school drop out actually), but it seems to me that if these loan companies know this law, and understand that this law takes precedent over any contractual or state law, then why don't they bother to take the time to explain to their consumers what "original value" means in their contract. In our contract, it does not specifically state the "or the appraised value", etc, etc clause. It just states the 1st part of the clause. And to me, that is being deceptive, disengenuous, and should be made aware to any states attorney general. Think of how much money is generated from people that may be paying thousands of $$ in PMI when it isn't nesscessary because their loan to values were less than 78% at the time the loan was consumated.

Pojo writes..... "It is beyond my belief what people will sign a legally binding contract and think they can just get it FIXED later."

So you see Pojo, I smelled a rat when we did sign the contract..... and I was right. I don't have much room in my life for deceptive business practices, nor unhelpfull people that would rather tell me to stick to a contract rather than explore my options under the law and what is morally right. In my opinion, I certainly hope you aren't an attorney. I would feel bad for your clients. Because if I was your client.... we all know what the results of your work would have been.

I was raised by honorable parents that have never been sued in their lives, and most of the deals we made were with a handshake. My parents also taught me to help those that need help unselfishly. That God commanded us to do so. That's how I treat everyone I deal with************** everyone. You should learn to be a little more kind and helpful towards others, because I can attest it comes back to you 10 fold.

I'm guessing you always wanted to be the room monitor or "tattle-tale" in 3rd grade, because your insessant problem with wanting to rat everyone out is annoying to say the least.

Shay Pari'e writes... "I know this may come as a surprise to you, but you really do not need to "PM" issues regarding PMI. It is kind of like a "DUH!"

Safeber.... does Shay's comment sound kinda snotty to you?? It does me too!! I'm a member of a couple of other forums on the net. Ones a classic car forum and the other is a drumming forum. I've never seen the nasty adtitudes from people on those forums that I've seen here. I think the webmaster should make some rules like they have on the drumming forum that I go to. Here's an excerpt.

General Chat about drumming. PRO TIP: If you disagree with someone try stating why instead of insulting them.

Notice where it says "pro tip". Seems to me that musicians seem to understand the basic concept of common courtesy. It's one thing that I think is lacking today with people hiding behind their computers thinking that they can just act anyway or say anything they wouldn't normally say in dealing with the public. The only reason I decieded to make a big stink about this is because of Pojo's continued behavior.

Off my soapbox for now.

Peace... John