ARM lones PMI?

Hi;
I know I made a mistake about 7 years ago when I bought my house. I hold an ARM loan, I am not in defalt by any channel, in reality I am way ahead of programme. I call my mortgage company (Chase Manhatten) to ask in the order of the PMI being taken stale my mortgage, they said I dont have a PMI that I enjoy a different kind of mortgage insurance, that isnt removeable. I borrowed $121,500 7 years ago, and I simply have going on for $54,000 left on my loan. Dose anyone know what this type of mortgage insurance is? and if I can receive it removed from my account. PMI requires that you own 10-15% of your home, later its waved sour the mortgage.

At closing if a builder add extra charges for upgrades..?

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Answers:   if it's MIP, then no, you cannot receive it removed. Each lender has their own variability on mortgage programs and it's been a long time since I've deal with Chase, but roughly, if it's MIP, it stays with the loan. If it's that expensive, and you enjoy good credit, look into a refi, or since your doing such a great position with your mortgage pay envelope it off impulsive

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