Today is the final installment of answers to your housing questions. We”d like to thank the readers who submitted them and Consumer Credit Counseling Service of Greater Atlanta for providing the answers.
Q: I financed 100 percent of the price of my home in 2007 with a conventional 30 year fixed-rate mortgage. Because I financed at 100 percent, I also pay private mortgage insurance. I enrolled in a payment plan that takes half the mortgage payment biweekly and consequently I make a 13th principal-only payment each year.
My husband and I are thankfully both still employed, but our household income will be cut by 6 percent beginning this month. Previously I called the mortgage company to see if my payment could be lowered. I asked to have the PMI removed and I was told no because I have not paid the mortgage down to 80 percent. Essentially, they didn’t offer me any relief because I was not behind on the mortgage. Are there any things in particular that a homeowner can request