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    3. Private Mortgage Insurance (PMI) was set up on my mortgage for 7 years does it automatically come off with now that houses have upside down mortgages?
    Private Mortgage Insurance (PMI) was set up on my mortgage for 7 years does it automatically come off with now that houses have upside down mortgages?

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    +1  Views: 491 Answers: 1 Posted: 14 years ago
    Tags: private mortgage insurance (pmi)
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      1 Answer

      If you have no equity in your house, you cannot cancel the PMI. Your equity in the house must still get to be 20% before the PMI can be cancelled, upside mortgage or not.

      14 years ago. Rating: 0
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