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As you describe your existin loan, it sounds as if you have an Option ARM loan becuse you say "it's adding to the balance."
If so, it could be that you are making the minimim payment "option" rather then the interest only payment and the Deferred Interest" is bing aded to you balance in the form of "Negative Amortization"
I would suggest reviewing loann documents to see it this is actully the situation.
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why are banks alloud to charge me for pmi when i am refinancing a mort ?
mrs w
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