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Mortgage Cancellation Insurance 

Mortgage Cancellation Insurance

Mortgage Cancellation Insurance refers to the homeowners' Protection Act of 1998 which allows you to request the cancellation of your Personal Mortgage Insurance, once you have 20 percent equity in your house. Your mortgage holder has the option of canceling it, but as long as your payment record is good, you shouldn't have a problem ending it. Once your equity reaches 22 percent, lenders are required to cancel PMI. If it isn't canceled, the lending institution is subject to fines and payment of your legal fees. The lender also must return any premiums you paid beyond what you really owed. You must be informed, in writing, when you close on your house that you have private mortgage insurance. Lenders must explain PMI, and when you can cancel it. Your lender must notify you annually about when you can cancel your PMI. The law applies to mortgages taken out as early as July 29, 1999.

Why PrimeQuote Term Life Insurance for your Mortgage Cancellation Insurance Quote
There are many reasons to choose PrimeQuote Insurance for your Mortgage Cancellation insurance needs.

You will only be contacted by us; we never sell your personal information to third parties, like insurance marketers or telemarketers.
Our state-of-the-art quoting database qualifies you for the inexpensive and excellent coverage you need and deserve.
We provide quotes from a broad array of insurance companies, making sure you receive the best value for your money that the market has to offer.
Our longstanding history of excellent customer service and our meticulous attention to detail leaves no stone unturned in our effort to provide you with the best term life insurance.
We only quote rates from highly rated and respectable insurance companies, which means you receive the best coverage out there.
We pride ourselves on providing personal customer service during extended business hours, ensuring that you always are able to speak with your assigned representative.

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