Isnt PMI based on the

[IONEGARM]

Isnt PMI based on the current account balance? Once you hit below 78% original LTV you should be good regardless of current equity.

http://www.privatemi.com/loanoptions/benefits/guide.cfm

http://www.privatemi.com/loanoptions/benefits/cancelable.cfm

“Under federal law, PrivateMI on most loans originated on or after July 29, 1999, will terminate automatically once the mortgage has amortized to 78 percent of the original value of the house. The borrower must be current on all mortgage payments. The lender must tell the borrower at closing when the mortgage will hit that 78 percent mark. Nine out of ten borrowers cancel their PrivateMI within 60 months.”