Mortgage Question Refinance 0% equity, want to get rid of PMI.?
Here are the details. 6.8% 40 year loan First 10 are interest only. 192k balance on a house valued at 192k (zillow.com) I have PMI. Bank Of America holds my note. I am current on my loan and can afford it. Do NOT have the $$ to pay closing costs.
I want to take advantage of all the stuff happening. I Want to get rid of the PMI, I want to lower the interest rates, and I want to start working on the principal and I want to lower my payments (Of course)
Anyone with a good understanding of the system and new “PLANS” that has any suggestions?
Thanks A TON