I think it is only fair that homeowners who have a original FHA home loan starting in January 2010 should be able to keep their original PMI under the following conditions. Never late on their mortgage payment, and have been in their home for a minimum of 3 years. The current PMI on a refinance is double from our original loan and we have to wait 5 years before we see a significant drop in our payment. I think this will definitely help out many families who are struggling.
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