If I’m at 72% loan to original value and haven’t been late on any payments, can my loan servicer hold me to PMI even though home values have fallen?

Asked on December 3, 2012 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Whether you are required to now pay PMI (personal mortgage insurance) at this time depends upon what your loan agreement states with your lender of you are at 72% loan to value. As such you need to carefully read your loan agreement with your lender. Your answer will be there.


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