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Originally Posted by loveajax
I am so bummed, because we were told we could not re-fi unless we had 20 percent equity in our home. Since the housing market here has crashed an burned, we don't have it any longer. I think that sounds like a good rate, but dang! anything under 5 is unheard of...good luck!!
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I know all too well how you feel. We had 50 percent equity in our house 3 years ago. Now we are just praying that the appraisal comes back that we have a least 20 percent and all this refinacing paperwork I am doing isn't for nothing. We could still refinance, but 17 years of marriage and 3 houses later I just can't go back to paying PMI again!