Mortgage owner's tactics under fire again - 2004-01-10
A huge exodus from Southern California of horses claimed in recent months by owner Michael Gill has caused Jack Liebau, the president of Santa Anita, to seek dialog with Gill over Gill's plans.

Gill, who has a mortgage business in New Hampshire, was out of the office Friday and said he had not seen Liebau's fax.

"The horses we've sent out either didn't fit there, we couldn't get races to go for them, were sore and needed to go to the farm, or got hurt. "
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Real Estate Mailbag - 2004-01-10
Q DEAR BOB: I recently refinanced my condo. At the closing, I was told by the lender that the Federal Housing Administration-backed loan requires private mortgage insurance (PMI), even though I have 29 percent equity. Is there anything I can do to save the PMI monthly cost?

-- Pandora M.

ADEAR PANDORA: Don't confuse the FHA's required mortgage insurance premium (MIP) with PMI, which conventional mortgage lenders usually require when a homeowner has less than 20 percent equity.
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