When your lender is required to cancel PMI

Photo: Tilemahos_E

Do you have private mortgage insurance? Did you know that your lender is required to automatically cancel it when you have paid your mortgage down to a certain point?

Under the Homeowners Protection Act, your lender must cancel your PMI when the loan-to-value ratio on your mortgage reaches 78%.

Find out how to make sure your PMI gets canceled as soon as you're eligible in my Interest.com article, 
When your lender is required to cancel PMI.

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