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P.M.I. doesn't mean "Protect My Interest"

P.M.I. (Private Mortgage Insurance) doesn't mean "Protect My Interest" Overview by Robert T. Lord  If you put less than 20% as a down payment on a mortgage, you may be required to have Private Mortgage Insurance (P.M.I.) or its equivalent on other loan products. PMI protects the lender if you default on the mortgage. The Homeowners Protection Act of 1998- which became effective in 1999- establishes rules for automatic termination and borrower cancellation of PMI on home mortgages. Currently, these protections apply to certain home mortgages signed on or after July 29, 19...

April 6th, 2016 | P.M.I., P.M.I. doesn't mean "Protect My Interest"

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