Legal Question in Real Estate Law in Texas
PMI Cancellation
At what point of your mortgage must the finance company stop your PMI in Texas?Is it on the appraised value or your buying cost and what if you have paid your mortgage,in 4 years,to 25%(75% left on loan) of the purchase price.Thanks,Butch
Asked on 4/23/08, 12:55 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: PMI Cancellation
At 80/20 and it's not automatic. You need to request that the PMI be dropped.
Answered on 4/23/08, 6:41 pm
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