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Archive for February, 2013

Official FHA Mortgage Insurance Cancel Rules Changed

Official FHA Mortgage Insurance Cancel Rules Changed

The ability to cancel monthly mortgage insurance premiums will shrink to zero for most new FHA borrowers beginning in June. Since 2001 the basic policy has been that borrowers could cancel their FHA mortgage insurance premium (MIP) once their loan balance was reduced to 78 percent of the original debt. If you borrowed $100,000 and […]

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