Mortgage Insurance Reviews – From the USA Federal Government
Eliminating the need for mortgage insurance would allow homeowners to refinance their mortgages at lower interest rates even in cases where the value of a home has dropped to the point where the loan balance is higher than 80% of the value of the home. Under current rules, loan balances that high require mortgage insurance, which adds to the costs of a refinance and has acted as an obstacle to helping more people refinance.