Can I remove the Mortgage Insurance from my loan? When?
posted by Bankruptcy Home Loans @ 1/24/2006
Tuesday, January 24, 2006
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1 Comments:
After purchasing a home with MI, it is usually required for a minimum of two years. In most cases, after the two year period is up, the borrower can order a new appraisal and the new home value vs. the new lower mortgage amount is 80% or less. Send the appraisal to your lender and request your mortgage insurance be removed.
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