[Irshan S]

I am looking to close on a new mortgage loan in a few days and found out that I can't close on two mortgages in year, the first one being a refinance on my current home, which I intend to put on the market once I move out of it. Also, PMI has been denied stating that I am in a negative equity situation according to Trulia.com. I think otherwise but who's gonna tell that to the PMI company. Bank says I can close when the 12 months are up but the PMI might still be an issue and to consider going the FHA route. I can wait it out till 12 months since that ends in October, not sure if the seller's will agree though. But what are my options on PMI?