🚀 go-pugleaf

In my local paper here in Raleigh N.C., an ad for mortgage refinancing
recently appeared featuring no points and no closing costs.  The company
is Abbey Financial, originally from the Cambridge, Mass. area, founded
about ten years ago.

The deal looks pretty good.  My question for the net is: Does anyone
out there have any info on Abbey that I should know?  Are they reputable?
They've only been in my area a few months.  Have they been in any
trouble?  Should I go with them?

I talked with one of their loan officers - very professional and supris-
ingly non-pushy.  The numbers look very nice.  The question is not about
the numbers, but about the company itself.

Please e-mail responses to me at mwarner@bnr.ca - Thanks!

Related question:  A year ago when we got the first mortgage on this
house, the PMI situation was this - pay .88% up front, then .49% per
year (divided into the 12 montly payments, of course) and put two months
worth into the escrow account at closing.  We only put about 6% down on
the house.  With this refinancing, we'll have 10% equity and this guy
say there's NO up front charge, .43% per year and put three months worth
into the escrow account at closing.  Have PMI plans really changed so
that there's no up-front charge?  Or did I get ripped off last year?
Or was that due to the fact I didn't have a 10% downpayment last year?

Thanks again!

Mike Warner, who likes the idea of getting $65/month for nothing.