How to Get Out of PMI (Private Mortgage Insurance)

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Tip 1 - When can I remove private mortgage insurance (PMI) from my loan?

Published: 9 years, 6 month(s) ago | Submitted by theersink | permalink

To remove private mortgage insurance (PMI) that you pay on your mortgage loan, you must be up to date with your monthly payments. These rules apply to mortgages closed on or after July 29, 1999. Federal law generally provides two ways for you to remove PMI from your home loan: canceling PM

For further reading: http://www.consumerfinance.gov/askcfpb/202/when-can-i-remove-private-mortgage-pmi-insurance-from-my-loan.html ^[1]

Tip 2 - Getting Rid of PMI (Private Mortgage Insurance) | Nolo.com

Published: 9 years, 6 month(s) ago | Submitted by Robert Tsai | permalink

Save money by asking your mortgage company to cancel your private mortgage insurance (PMI).

For further reading: http://www.nolo.com/legal-encyclopedia/private-mortgage-insurance-pmi-30108.html ^[2]

Tip 3 - Mortgage Insurance - What is PMI and how does it work? - Zillow

Published: 9 years, 6 month(s) ago | Submitted by Hayes Raffle | permalink

For further reading: http://www.zillow.com/mortgage-rates/buying-a-home/mortgage-insurance-and-pmi/ ^[3]

Tip 4 - How To Get Rid Of Private Mortgage Insurance

Published: 9 years, 6 month(s) ago | Submitted by Cioffski | permalink

Private mortgage insurance benefits the lender (the sole beneficiary of PMI), but it can add a sizable chunk to your monthly house payment.
Tags: pmi,mortgage insurance,homeowners insurance,cancel pmi,home equity,home insurance,home purchase,mortgage

For further reading: http://www.investopedia.com/articles/personal-finance/062014/how-get-rid-private-mortgage-insurance.asp ^[4]