Comments on: What is Private Mortgage Insurance? http://thefamilywallet.com/2008/07/what-is-private-mortgage-insurance.html Money Tips For Your Family Mon, 16 Apr 2012 12:01:25 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sam http://thefamilywallet.com/2008/07/what-is-private-mortgage-insurance.html/comment-page-1#comment-77 Sam Tue, 29 Jul 2008 07:40:04 +0000 http://thefamilywallet.com/?p=52#comment-77 Agree with the definition above. However, what most homeowners do not realize is that the insurance is usually no longer necessary after enough equity has built up in the property. Contact your lender if you meet this requirement and want to drop PMI. A precaution: do not confuse PMI with mortgage life insurance. The latter pays all, or a portion, of your mortgage in the event of your death. Sam Fix My Personal Finance http://fixmypersonalfinance.com/ Agree with the definition above. However, what most homeowners do not realize is that the insurance is usually no longer necessary after enough equity has built up in the property. Contact your lender if you meet this requirement and want to drop PMI.

A precaution: do not confuse PMI with mortgage life insurance. The latter pays all, or a portion, of your mortgage in the event of your death.

Sam
Fix My Personal Finance
http://fixmypersonalfinance.com/

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