PMI Help

[Justin R.]

Hello BP,

I have a friend who is in a predicament. He was in a subprime loan and foreclosed 5 years ago. He has purchased a new home for him and his family, but is currently paying 600 a month in PMI. Although he does have 80/20 LTV he has not been able to refinance due to his semi recent foreclosure. Is there any way to obtain conventional in this situation?

Thanks for your advice!