Solving the PMI Riddle
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If there’s a bargain in the PMI world, it’s Jeff Gates’ PMI_Out! Windows software package.
The retired attorney turned computer programmer has created a simple program that lets you know if and when you can cancel private mortgage insurance on a loan that has been sold to Freddie Mac or Fannie Mae.
Just type in your mortgage and property value data for an answer in seconds. The software also features an overview of PMI, strategies for cancellation, text of Fannie Mae and Freddie Mac’s PMI guidelines, cancellation request form letters and other pertinent information.
To purchase PMI_Out! send a check for $9.95 to ProActive Consumer Services, P.O. Box 1561, Blaine, WA 98231. You can e-mail Gates at [email protected].
You can call Fannie Mae at (800) 732-6643 to request a copy of its PMI rule and to discuss other PMI concerns. Call Freddie Mac at (800) 373-3343.
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