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Subject:  Re: Plans for the New Year Date:  2/19/2001  12:21 PM
Author:  InvestorGrrl Number:  58656 of 312189

dianakalt asked:
Just high are your current grocery costs? How big a reduction are you shooting for?

InvestorGrrl blushes:
I didn't keep records before. I knew it must have been higher, as we were making more quick trips to the corner 24-hour supermarket, and fewer trips to Albertson's and Costco. We were also eating out more when I was working. Now we eat out once or twice a month, rather than once or twice a week. I guess I'd estimate $75 reduction.

I thought that you have to have 20% equity in your home to get PMI off, and that it was automatically taken off in most cases at 22% equity. Does your loan have special requirements or something? (I'm curious because I plan to buy something in about 1.5-2 years.)

Yes, my loan did have special requirements: I had to have made 24 full mortgage payments ON TIME, and have 25% equity of the current market value in my home to get PMI off; or, make 120 full mortgage payments ON TIME, and have 20% equity in my home; or, make 24 full mortgage payments on time, and have 20% in equity of the original market value (this would mean a payment of $14000 toward principal). The PMI laws were changed around July 1999, and one set of PMI rules apply to mortgages before July 1999, and another to mortgages procured after July 1999. At the beginning of the year I sent a request for PMI removal information to my mortgagor.

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