Q: PMI removal is being denied because I paid my mortgage down below 78% ahead of the amortization schedule?
Can PMI removal be denied for paying your mortgage down faster than the standard schedule? I'm at 76% LTV of my original loan amount, but 3 years before the standard schedule says I should be. Is there anyway around that without paying for a BPO?
A:
The Consumer Financial Protection Bureau (a federal agency) has a wealth of information relative to this exact topic of removing PMI which can be accessed at the following site:
https://www.consumerfinance.gov/ask-cfpb/when-can-i-remove-private-mortgage-insurance-pmi-from-my-loan-en-202/
While not legal advice I hope that this helps point you in a direction to get clear answers to your questions.
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