Chase Manhattan Bank Complaint - Chase PMI with my Mortgage
Being an old WAMU customer I was told my PMI would be removed this past August when my LTV was 80%. they were going by my appraised value and my loan balance, which would give me 80% LTV. I even got a letter from Wamu letting me know after August's payment it would come off.
well chase says "I don't think so" They go by the purchase price???!!!! how is that possible? if you buy a foreclosed home or buy a beater home and renovate it to increase the value you're still stuck with the purchase price? that makes no sense. I got my place at a steal and now I have to suffer bc I didn't put 20% down even though my property is worth more than I paid for it 3 years ago.
don't bother banking with chase. use Citibank. atms in all the 7-11's saves me at least $20-$30 a month in atm fees.