We are paying about $700 a month in PMI. Looking at our home value, vs. the amount we owe, I thought we should have stopped paying PMI by now. We owe $363K on a $524K valued home (estimates from Zillow are high, but still...) which is 30% equity ownership in the house.
Called the bank - they say we need to pay off 20% of the loan, not 20% of the value of the house. Uggh. Called some other banks here in Massachusetts - seems like this is a very unusual arrangement.
What are the regulations on PMI? Where can I learn more about it?
Submitted November 29, 2018 at 08:13AM by marcus_aurelius_53 https://ift.tt/2KHT47E
