Posted on: 27th Aug, 2008 11:56 pm
hi, i recently sold my property and have heard that i am entitled to a reimbursement on part of my lmi. i purchased less than 2 years ago and paid lmi, and then revalued after reno and borrowed more, thus paying an extra amount of lmi.
if i am entitled, how do i go about it?
if i am entitled, how do i go about it?
Hi loveallthatis.
Welcome to the forum. I think you are talking about Lenders Mortgage Insurance. Are you an Australian? The lender may be entitled to claim reimbursement from the insurance company if the sale proceeds don't cover the outstanding balance of the loan.
BTW aren't the sale proceeds cover the outstanding balance of your loan.
Best of luck,
Larry
Welcome to the forum. I think you are talking about Lenders Mortgage Insurance. Are you an Australian? The lender may be entitled to claim reimbursement from the insurance company if the sale proceeds don't cover the outstanding balance of the loan.
BTW aren't the sale proceeds cover the outstanding balance of your loan.
Best of luck,
Larry