When your lender is required to cancel PMI
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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