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From: karl@vrdxhq.UUCP (Karl Nyberg)
Newsgroups: net.invest
Subject: Re: PMI
Message-ID: <2120@vrdxhq.UUCP>
Date: Fri, 18-Oct-85 11:18:20 EDT
Article-I.D.: vrdxhq.2120
Posted: Fri Oct 18 11:18:20 1985
Date-Received: Mon, 21-Oct-85 05:41:33 EDT
References: <888@decwrl.UUCP>
Organization: Verdix Corporation, McLean, VA
Lines: 19
Summary: Discontinued at option of lender

Just recently receiving my escrow account analysis, I decided to check
into the MIP issue.  I called the FHA (7 different numbers), and
finally found out that the MIP CAN be cancelled by the lender using
form HUD 2344.  However, upon calling my lender (SOVRAN BANK), they
informed me that they had exercised their option (in my purchase money
deed of trust, HUD-92187M) to have the MIP continue to be paid over
the entire life of the mortgage.  The TRUTH-IN-LENDING STATEMENT I
received prior to closing listed Mortgage Insurance Renewal Premiums
as part of the cost of the loan I was obtaining.

Maybe I'll order a stack of 2344s and start including them with my
mortgage payments! :-)

-- 
-- Karl
--

DDN: 	nyberg@eclb, nyberg@utexas-20, Nyberg@mit-multics
UUCP:	...!{rlgvax, seismo, trwatf, umcp-cs, verdix}!vrdxhq!karl