No Wonder They Will Not Cancel My PMI Insurance

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Originally Posted by FRPLG

That's not even legal. They cannot charge PMI if you have 20% equity per the '98 HPA. You must not be understanding something. How are you defining equity?

I've read the law but it seems Wells Fargo uses what ever they want to use as original home value. First they said I had to be 20% under the original appraisal which I'm way under and when they realized that they said I had to be 20% under the purchase price. When they noticed I was 20% under that they then said I had to be 20% under the original loan amount. I could easily get it removed if I pay for a new appraisal but with how the law reads I should not need one.