Ask Experts Questions for FREE Help !
Ask
    RJBCGB08's Avatar
    RJBCGB08 Posts: 5, Reputation: 1
    New Member
    		  
    #1

    May 5, 2008, 04:03 PM
    PMI Insurance
    Could someone advise exactly what is PMI. If I request to cancel this does it have anything to do with the Homeowner's Insurance Policy?
    MasonR2's Avatar
    MasonR2 Posts: 2, Reputation: 1
    New Member
    		  
    #2

    May 6, 2008, 07:19 AM
    PMI is there to protect the lender, not you. Lenders require PMI on high loan-to-value (LTV) loans. As a condition of providing you a mortgage, you're required to carry PMI at your cost until the loan reaches 80% LTV. If you believe your home has appreciated enough since you purchased it to get you to 80% LTV or less, it might be worth it to spend the $ on a new appraisal.
    dolly2009's Avatar
    dolly2009 Posts: 8, Reputation: -1
    New Member
    		  
    #3

    May 6, 2008, 11:48 PM
    No it don't have anything to do with your Insurance Policy. When your home reaches at sure point in its time. You can cancel and it won't hurt you a bit!
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Involved in accident without insurance but she had insurance [ 12 Answers ]

I live in PA. An older lady hit my car per the police report it states that she turned directly into my driverside of my car as I had the right of way. My car was damaged & I was hurt. I contacted my insurance company they told me my policy cancelled 3 days before the accident but its OK now...

Car insurance [ 3 Answers ]

I currently have commerce ins. For 2 vehicles I had 1 minor fender bender at fault 50%. I pay $162.00 a month .I got an insurance Quote from progressive ins. Which just came available in my state they are offering $96 dollars a month for both vechicles for 6 months then I can renew it for 6 months...

Insurance [ 1 Answers ]

What insurance companies insure roof problems, electrical, plumbing problems. The inside of the house problems..

Motgage Insurance vs. Life Insurance [ 6 Answers ]

Hi-- I just bought a new house and am getting solicitations for mortgage insurance if I kick the bucket. I don't want my wife to have to be burdened by mortgage debt. Had thought about getting term life insurance to cover the mortgage amount, what's the better approach??

What is Co-Insurance? [ 4 Answers ]

Can someone please explain to me what co-insurance is? Explain it to me in the SIMPLEST terms, as if I am stupid!! :D I'm looking to change from my current cobra group plan with BCBS - PPO (which is extremely expensive) to an individual BCBS PPO plan. Thanks!!

View more questions Search