Tales of PMI Cancellation: Slept On It

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    Countrywide Home Loans
    The more I think about my conversation with, well, I never caught her name, but the more I think about the entire discussion yesterday, the more I wish I’d at least gotten a solid answer to well, anything.

    Does Countrywide acknowledge the existence of Homeowners Protection Act?

    From what I can tell, no.

    Does a scenario exist where PMI is automatically terminated?

    Again, it doesn’t appear so.

    Had yesterday’s conversation gone differently, even with the same negative result, I think I’d still consider myself a satisfied customer.

    Unhappy, but satisfied.

    I mean, had she said something along the lines of, “Yes, Mr. Smurf, you have indeed reached the required loan to value percentage, but PMI will continue until the date that your original amortization schedule would have had you reaching that percentage. By the way, would you like to discuss refinancing options?”

    Yeah, that’s still a BS response, and still a rip-off, but at least it would have been some solid information. All I have now is a bunch of jumbled worlds — COV, market conditions, however, and Smorf…

    This morning I’m going to try the online customer service method again asking bluntly, “Is Countrywide aware of a law called the Homeowners Protection Act?” and “At what date will my PMI be terminated automatically.”

    I’ll also ask them not to send my another letter in 7-10 days. And I’ll also ask that that they not ask me to call customer service again. I’ve spoken to three people and no one has answered my question.


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