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Mortgage PMI

March 21st, 2013 at 03:33 pm

I am on a roll today!

I both emailed and mailed a letter to my mortgage company asking what the minimum balance on my mortgage should be for PMI to be removed. I also asked them what the procedure is to cancel it.

Last year when I was trying to do a refi (that I bailed on) I paid for an appraisal that is still good thru 7/2013. It may now come in handy!

I believe I am eligible to cancel the PMI.

1 Responses to “Mortgage PMI”

  1. ceejay74 Says:

    Good for you! Also, depending on how long you've had the mortgage, if you've paid enough to be at 20% of what the equity would have been, you may be eligible even if you're not quite there. My bank canceled my PMI for me last year; good thing they did, because I had no idea it was possible since I'm underwater!

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