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How to Get Rid of Your Private Mortgage Insurance

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If you paid less than 20% down payment on your home purchase, you are most likely paying a monthly Private Mortgage Insurance (PMI). The PMI is an insurance policy that protects the lender — not you. If you default on your mortgage, the lender receives payment from the insurer for the loan given to you. … Read moreHow to Get Rid of Your Private Mortgage Insurance

Should You Refinance Your Mortgage? Refinancing Pros and Cons

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Should you refinance your mortgage? The general rule of thumb is if you can reduce your current interest rate by 1% or more, it is worth it to do a mortgage refinance. And many people are happy to follow this rule as long as it lowers their monthly payment or lets them take out some … Read moreShould You Refinance Your Mortgage? Refinancing Pros and Cons