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Pastimes : Generation Xers--saving and investing strategy
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To: Mike McFarland who wrote (1)10/15/1997 2:29:00 PM
From: Mike McFarland   of 100
 
Here is another idea for young investors--if you have a mortgage loan get rid of that PMI, Private Mortgage Insurance. What a rip off that is.

When my wife and I bought our house a couple years ago, many many documents and papers were signed--very few were read, although we did have an attorney look a couple things over. One of the things that got by us was the ridiculous amount lenders charge for PMI--in fact, looking over last years totals we paid over a hundred dollars a month for this PMI crap.

If you are in a market where real estate is going up...you may be able to get rid of the PMI without giving up too much cash. I wrote a letter to my lender today asking what I need to do--I'll post what info I find out later, but I believe you can count appreciation toward the 25% stake lenders require before you can drop PMI.

On stocks...still a bear and contemplating Dell puts if the stock has a blowoff run up preceeding comdex. Earnings are out end of november...so would be looking at the January puts. I cannot beleive that Dell is competing very well in the low end, which compaq seems to dominate right now. At the high end one wonders how many folks (like me) are waiting for AGP PII-300's to buy in Feb when prices tend to sag.
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