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Condo Refinance issue with PMI company

I have a condo in san diego which i am trying to refinance for last 6 months. The current LTV is around 87%.The PMI company requires 70% owner occupancy for a 
conforming loan and 50% for a FHA which I was told by the lender. My complex has an owner occupancy of 60%. I was told that there is only one PMI company in CA that funds condos.I have been going through the FHA approval process for almost 4 months  to get at least an FHA loan. I wanted to check what my options and if i have been guided correctly. 
  • November 29 2010 - Mira Mesa
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Answers (1)

Profile picture for MoniqueU
if you have less than 20,000 in retirment. go for a loan modification.
call hopenow.com , a loan modification by passes MI.
hopefully your ratios are high so it will qualify.
  • November 29 2010
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