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Joyce Said:

I have a Premium Mortgage insurance,(P.M.I)when i bought my Townhouse about 2years ago,?

We Answered:

I think you mean Private Mortgage Insurance (PMI). This was not forced upon you because your credit scores were low. It was forced upon you because you borrowed more than 80% of the value of the property. Translated to mean your LTV was over 80%. In order to get rid of the PMI you would need to get an appraisal showing your house has increased in value enough to have an 80% or less LTV. I would also check with my mortgage company before I spent the money on the appraisal to make sure there is no special provisions in the mortgage.

Good Luck,

Michael