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Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Private Mortgage Insurance
Most of you who have a loan on your home are paying Private Mortgage Insurance (PMI) with your payment. This is a fee the Mortgage Company charges to cover them if they have to foreclose. You do not have to pay this fee if you have 20% equity in your home. It generally ranges from $50 to $125 per month. Right now, if you earn under $100,000 you can deduct this expense from your taxes. For most homeowners who pay on time, this is a very frivolous cost. The money spent on PMI could be going toward the principal on the loan. There is usually a date when the Mortgage Company is set to remove the charge, which is 8-10 years down the road. What they do not factor in is the fact that properties in San Angelo have moved up in value. A typical loan that is 3 years old could already be within that 20% equity range. Do you think your lender will inform you of this? The answer is NO! It is up to YOU to keep up with this. Please give me a call if you would like to discuss the value of you home. You might ... more

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