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Date Posted: 18:52:45 06/07/07 Thu
Author: Lawshark
Subject: I'll try to look it up tomorrow...
In reply to: Waldo 's message, "I need a real estate attorney..." on 12:14:10 06/07/07 Thu

But my understanding of the law was that it is mandatory on the lender to release the PMI upon hitting 78% of the valuation used at the time the loan was entered into. I think YOU are right...not them.

So...if you have been shooting extra pennies towards principal and have hit 78% on your original amortization schedule...then they should release the PMI with no further hassles.

I'll see what I can find...but in the meantime, just make sure to let them know that you'll be talking to the state attorney general about it...

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