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Thread: Legal Provisions about PMI?

   
   
  1. 11-22-2007, 12:03 PM #1
    Steven
    Steven is offline White Belt
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    Default Legal Provisions about PMI?

    Hello,
    I have been paying PMI (Private Mortgage Insurance) for about 3 years now but now I realized that my payment only protects the lender. I would like to know about the legal provisions as regards this. Does any one have any idea? Thanks in advance!
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  2. 11-23-2007, 08:37 AM #2
    JohnRussell
    JohnRussell is offline White Belt
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    Nov 2007
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    Well the PMI payments are supposed to be dropped from your mortgage when your LTV falls below 80% and as a homeowner you should be aware of Homeowners Protection Act of 1998. I would also suggest you to visit the site mortgagepmi.com which maintains a lot of information regarding PMI and I am sure you would be able to find the answers to all your queries regarding PMI and your protection out there! Happy Holidays!
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