Profile picture for 365205

why is it that I had a loan to value of 80% or better in 2007 and the banks and realtors

inflated the values or gave loans to people they shouldnt have. Now when I go to refinance my mortgage I have to pay pmi. I put down 100,000 on my home and have 810+ credit score and I am being treated like someone who is a risk. I am not the problem banks and realtors are the problem.
  • August 17 2011 - Southaven
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Answers (3)

Value is established for loan purposes by the appraiser.  no one else.
  • August 17 2011
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Profile picture for Michael Helton

You have an 810+ credit score?  Impressive.

If it was a new loan they would be swooning over you, but on a refi then not so much.  Nevada is now sueing Wells, BofA and a few other banks for criminal and civil charges regarding their bait and switch tactics, as well as their purposeful blocking of customers from refi.

Crazy world out there.

  • August 17 2011
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If you have a Fannie or Freddie loan and didn't have MI to begin with you can probably refinance now without MI. What is the loan balance and estimated value?
  • August 17 2011
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