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Screw the banks. Got PMI scheduled for removal and explained to 3 of my neighbors PMI and they got it removed.

I bought my first house at the beginning of 2021 in a newer townhome community (built in 2017, 3 bed, 3 bath) in the burbs. I’m a social guy and always out talking with my neighbors and one day we got on the subject of how high our home values have gotten over the two year after a few of them just sold.

I bought at 201k and put 10k down. Fast forward to today and most of them that have less square footage as mine are selling at 238k and 242k.

After I called the bank they said in February I can get rid of PMI on that 24 month payment and can have an assessor out there, just call back in January to schedule that. I asked around to my neighbors if they were will paying PMI and I told a few of them now that their house was worth more they can get it removed easily (and some of them bought in at 175k).

Sad people don’t educate themselves a little more and sad that the banks never told them about this and all they had to do is make a few phone calls and an appraisal to get it removed.

submitted by /u/bcjh
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source https://www.reddit.com/r/RealEstate/comments/xnmm5v/screw_the_banks_got_pmi_scheduled_for_removal_and/
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