Ok you homo'wners....

if you bought a house with less than 20% down, you are more than likely paying PMI Insurance...which is not tax deductible. often, on a $170k mortgage it is over $100 per month.... and about $50 per month on a $100k mortgage.

if your house has appreciated enough since you purchased, a new appraisal is all that is needed..... have your lender use their appraiser, then let them know what $ amount you are looking to get on the house..... (they need to come inside to measure, so tell them what amount you think it should be worth...be reasonable though)....

anyway...easy way to save $1200 a year if your house has appreciated alittle.

Scot's money saving tip for the day.

 

[QUOTE]Originally posted by Scot
[B]Ok you homo'wners....

if you bought a house with less than 20% down, you are more than likely paying PMI Insurance...which is not tax deductible.

 

Roceye's tip: save up the 20%, so you can tell them where they can stick that PMI!

 

I spent 8 years in the Navy to earn my VA benefits, so no PMI here. Here's the joke though...try finding a suitable house for < $203,000 in the DC area...ha...

Good tip

 

[QUOTE]Originally posted by moonpie
[B]I spent 8 years in the Navy to earn my VA benefits, so no PMI here.