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Would i loose my deposit if the pmi did not approve the original loan?

We sign an agreement with our lender for a 30 year fix! Now the pmi ( insurance company) did not approve the loan. They want us to go 7 year fix and variable after! But we dont feel comfortable with it! We are wondering what are the posibilities we might loose our deposit if we dont go through with it?

Asked By: ¬°±G¦3ô¥±°¬ - 7/5/2011
Best Answer - Chosen by Asker
It all depends... More
Answered By: mortgagequeen - 7/5/2011
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