The truth behind a letter stating your mortgage amount will increase

TULSA - Letters are landing in Green Country mailboxes showing a hefty increase due to an increase in the annual mortgage insurance premium.  

At the top in red letters it reads "Monthly Mortgage Insurance Premium Increase".  Farther down there's a line item showing a mortgage increase of more than $1,000.   Scary for any homeowner.

The letter goes on to urge the recipient to call the company within three days.

So what happens to your mortgage if you don't call?

Absolutely nothing.   We talked to the CEO of the mortgage company behind the mailings.
    
The letter is an attempt to get people to come refinance their loans through his company.

If you're not in the market to refinance it doesn't impact you at all.

If you do want a re-fi just be sure to go through any HUD direct lender and you can avoid the mortgage insurance premium increase mentioned in the letter.