Comments on: Bi-Weekly Mortgage: Less Than It Seems http://www.fhaloanpros.com/2008/06/bi-weekly-mortgage-less-than-it-seems/ The Unofficial Guide to FHA Loans & Mortgages Mon, 01 Dec 2008 19:07:58 +0000 http://wordpress.org/?v=2.6 By: Suzanne http://www.fhaloanpros.com/2008/06/bi-weekly-mortgage-less-than-it-seems/#comment-18985 Suzanne Wed, 02 Jul 2008 03:52:39 +0000 http://www.fhaloanpros.com/2008/06/bi-weekly-mortgage-less-than-it-seems/#comment-18985 Jeff, I simply want to say "THANK YOU"! I have mortgage right now and I was considering the bi-weekly loan. I'm glad that I didn't go forward with it or else I'll be another victim. Althought, I do have an question regarding my 15 year FHA refinance loan with mortgage. They not only charge me with $1600 on PMI (mortgage Insurance) upfront, but they also charge me on monthly basis. The mortgage guy told me that they have to for townhome and condo, also after a year the monthly PMI will just fall off and I don't have to worry about it. But when I call the lender and asked them about it, they said the mortgage insurance would continue until I reach a certain loan amount. Can anyone tell me is more about the PMI on the FHA PMI? Jeff,
I simply want to say “THANK YOU”! I have mortgage right now and I was considering the bi-weekly loan. I’m glad that I didn’t go forward with it or else I’ll be another victim.

Althought, I do have an question regarding my 15 year FHA refinance loan with mortgage. They not only charge me with $1600 on PMI (mortgage Insurance) upfront, but they also charge me on monthly basis. The mortgage guy told me that they have to for townhome and condo, also after a year the monthly PMI will just fall off and I don’t have to worry about it. But when I call the lender and asked them about it, they said the mortgage insurance would continue until I reach a certain loan amount.

Can anyone tell me is more about the PMI on the FHA PMI?

]]> By: Mike Norman http://www.fhaloanpros.com/2008/06/bi-weekly-mortgage-less-than-it-seems/#comment-17135 Mike Norman Sat, 21 Jun 2008 18:21:19 +0000 http://www.fhaloanpros.com/2008/06/bi-weekly-mortgage-less-than-it-seems/#comment-17135 Hey Jeff: FYI even though the lender doesn't credit the payment biweekly, the savings in interest and the term reduction are real. So, if someone can have their money debited biweekly and it saves Tens of Thousands of dollars as promised; what's ingenuous or deceitful? I'd agree with you if the savings didn't occur. Realistically, the savings are due to an extra half payment to principal every six months, not the fact that the money is debited or applied biweekly. Hey Jeff: FYI even though the lender doesn’t credit the payment biweekly, the savings in interest and the term reduction are real. So, if someone can have their money debited biweekly and it saves Tens of Thousands of dollars as promised; what’s ingenuous or deceitful? I’d agree with you if the savings didn’t occur. Realistically, the savings are due to an extra half payment to principal every six months, not the fact that the money is debited or applied biweekly.

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