Search found 5 matches

by JonSnow
Mon Nov 20, 2017 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Pay lump sum to get rid of PMI?
Replies: 13
Views: 1612

Re: Pay lump sum to get rid of PMI?

I called up the bank and ended up paying the minimum I needed and got rid of the PMI. It actually only took about 20k to do so. Now my monthly payment is a little bit lower and I get to decide what to do with the $122. The other option was to get an appraisal, which they quoted my $300-$500. I didn'...
by JonSnow
Mon Oct 23, 2017 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: Pay lump sum to get rid of PMI?
Replies: 13
Views: 1612

Re: Pay lump sum to get rid of PMI?

I've never heard of recasting a mortgage, I just googled it and it actually seems like a good idea depending on the fee to do it. Thank you for the suggestion Watty!

I am in no rush to pay off the mortgage and could use the extra cash flow for investment/savings.
by JonSnow
Mon Oct 23, 2017 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: Pay lump sum to get rid of PMI?
Replies: 13
Views: 1612

Pay lump sum to get rid of PMI?

Hello all, wanted some advice on a big financial decision I need to make. Took out a 217k Condo Mortgage in 2012 with 0% down at 4.25%. There is a monthly PMI of $122.97. I bought the condo right out of school, needed a place to live and couldn't live with family anymore. Not the smartest decision b...
by JonSnow
Tue Jan 29, 2013 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Pay Debt vs Invest. I invested. Right Choice?
Replies: 19
Views: 1807

Re: Pay Debt vs Invest. I invested. Right Choice?

"You know nothing, Jon Snow!" I want to thank everyone for their advice to start, I appreciate all the input and it seems that paying off some of the debt is the general consensus here. I had suspected to be the better choice, it was good to get some opinion from more experienced folks. H...
by JonSnow
Tue Jan 29, 2013 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Pay Debt vs Invest. I invested. Right Choice?
Replies: 19
Views: 1807

Pay Debt vs Invest. I invested. Right Choice?

I want to thank everyone on this forum as I have learned so much reading all the posts. I've read The Bogleheads' Guide to Investing and wants to invest, but should I be investing or paying my debt? Age: 30 in 2013 Income: 115k to 120k Gross Federal Tax Rate 28% State Tax Rate 7.95% Filing status is...