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creased) value of your home, there may be no need for you to continue making this monthly payment. Rules for cancellation differ, but all apply to residences occupied by the borrower. Fred die Mac, for example.,insists on a 7-year wait before an increase in home value will be recodgnized as a basis for cancelling mort gage insurance.
A federally chartered savings and loan company is required to cancel private mongage insur ance when the loan to-value ratio falls below 80% of the original appraisal. A national bank has no such law. It may be wonh your while to check.
If there is anything we can do to help you in the field of real es tate please stop in at EILEEN M DAY. Realtor, The Clopton House, Washington, Va. 22747. Phone 675 3033. Were here to help.
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