55 Public Square, Suite 1009, Cleveland, OH 44113
Phone: 216.348.1800  Fax: 216.348.1130  Email: info@weiss-legal.com
Legal Blog

Do you have Private Mortgage Insurance (PMI)? 

PMI is a type of insurance that lenders require homeowners to purchase when the homeowner’s down payment is less than 20% of the purchase price of the home. Under the law, the obligation to carry private mortgage insurance should automatically terminate when the balance of the loan is paid down to 80% of the original purchase price, so long as the homeowner is current in their mortgage payments. 

 
Some lenders have been requiring homeowners to obtain and pay for an appraisal of their homes before the lender will terminate a homeowners obligation to pay for private mortgage insurance.  It is unlawful to require the homeowner to obtain and pay for an appraisal as a precondition to having a homeowner’s private mortgage insurance terminated.
 
If you have any questions regarding private mortgage insurance and when your obligation to continue paying for this insurance should terminate, please feel free to contact us at (877) 348-1802 or by email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it
 
 
Have you recently received a rebate?
 
Do you have a complaint about a rebate? Many people complain about rebates that are processed too slowly or that the rebate has been denied due to some technical error in filling out the rebate redemption form.
 
A new rebate problem has been brought to our attention. If you received a rebate, you probably only received the amount of the rebate, but not the amount of the sales tax you paid on the rebated amount.  If you received a rebate that was offered by the seller or retailer (as opposed to a manufacturer’s rebate), you may be entitled to a refund of the sales tax that you paid on the rebated amount.
 
Seller or retailer rebates are commonly offered by phone companies, sellers of appliances for the cost of delivering the appliance, and on many electronic consumer goods.  If you would like more information, please call us at (216) 348-1800 or toll free at (877) 348-1802.
 




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