Stop Wasting Money: Eliminate Private Mortgage Insurance!

The PMI Trap – Paying for Nothing

If you put down less than 20% when you bought your home, you're likely paying Private Mortgage Insurance (PMI). This isn't for your benefit; it protects the lender if you default. And it's a significant monthly expense, often hundreds of dollars, silently draining your finances.

The critical truth?

For most homeowners, PMI is not a life sentence. With our help, you can get rid of it and keep that money where it belongs—in your pocket.

Why Act Now? Unlock Immediate Savings

Many homeowners mistakenly believe PMI automatically falls off. While there are some automatic termination rules, being proactive can save you thousands. In today's market, with fluctuating interest rates and often appreciating home values, aggressively pursuing PMI cancellation can mean immediate and ongoing savings. Every dollar you save on PMI is a dollar you can put towards principal, savings, or other investments.

Step 1: Understand Your Loan-to-Value (LTV) (We'll Calculate It)

The key to canceling PMI is demonstrating that you have enough equity in your home. Generally, you need to reach 20% equity (meaning your loan balance is 80% or less of your home's current value). This can happen through:

• Paying Down Your Principal: Consistent mortgage payments reduce your loan balance.

• Home Appreciation: If your home's value has increased since you bought it, you might already be over the 20% equity mark.

• Our Service: We'll review your original loan documents and current mortgage statements, and help you estimate your current LTV with precision.

Step 2: Request an Appraisal (We Manage the Process)

Once we believe you have at least 20% equity, we'll need to prove it to your lender. This usually requires a formal appraisal.

• Our Service: We'll handle the written request to your mortgage servicer, ensuring all necessary forms are submitted. We'll guide you through the appraisal process, which the lender will likely require to confirm your home's current market value. (Note: The cost of the appraisal itself is typically paid by the homeowner, but our service fee is contingency-based). We'll also ensure your payment history meets the lender's requirements.

Step 3: Follow Up and Confirm Cancellation (We Ensure It's Done)

After a favorable appraisal confirming you've reached the 80% LTV threshold, your lender should process the PMI cancellation.

• Our Service: We'll diligently follow up with your lender to ensure the PMI charge is removed from your next mortgage statement. If it hasn't, we'll intervene immediately on your behalf. We also verify any necessary adjustments to your escrow account.

When Private Mortgage Insurance Might Automatically Terminate (The Law's Role):

The Homeowners Protection Act (HPA) mandates automatic PMI cancellation once your loan balance reaches 78% of the original home value. However, waiting for this can mean you've needlessly paid thousands of dollars that could have been saved by being proactive at 80% LTV. Don't wait for "automatic" – let us make it happen sooner.

Stop Paying for Protection You Don't Need!

Navigating mortgage documents and pushing lenders to cancel PMI can be a complex and time-consuming process. At 2nd Look Services, we take the hassle out of it and ensure you get the results you deserve.

Our Guarantee: Contingency-Based Service We're so confident in our ability to eliminate your PMI that we offer our service on a contingency basis. You only pay us a percentage of your projected annual PMI savings once your PMI is successfully canceled. If we don't save you money by eliminating PMI, you don't pay us a service fee for the cancellation process!

Ready to free up hundreds each month? Call us today for a free, no-obligation PMI assessment! Let us help you unlock your home equity and keep more of your hard-earned money.