Legal Question in Real Estate Law in Texas

private mortgage insurance

I recently closed on a house and a month later my mortgage company notified me that my PMI was miscalculated and that the new figure was going to be $515.00 more a month. They said that there were clauses in my contract that allowed for errors like this and that there was nothing that they could do for me. Am I just out of luck? Please help.


Asked on 2/27/07, 4:43 pm

2 Answers from Attorneys
Johm Smith tom's

Re: private mortgage insurance

You should have an attorney go over your contract.

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Answered on 2/27/07, 8:19 pm
Cheryl Rivera Smith The Smith Law Firm

Re: private mortgage insurance

That doesn't sound right. PMI is private mortgage insurance and is usually around $30-50 per month...not $515! Maybe they mis-calculated your escrows, but even then that would be high. Go back to your title company and maybe the escrow officer can explain it. If not, call an attorney.

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Answered on 2/28/07, 5:20 am


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