Here’s a smart tip from my friend Jane Bryant Quinn’s Newsweek column:
If you put less than 20% down on your house, you probably had to buy mortgage insurance. But did you know that, once your equity in the home reaches 20% (through appreciation and/or your payments), you may be able to stop paying that premium?
Different lenders have different policies, and an appraisal fee will probably be required. But if you’re currently paying mortgage-insurance premiums and think you may qualify to stop, check with your lender. It could put you hundreds of dollars a year ahead.
Quote of the Day
It's unbelievable what happened, said Jack Brod, who has operated Empire Diamond and Gold Co. in New York's Empire State building for over 50 years. When gold was over $700 an ounce and silver over $40 everybody wanted to buy it. Today nobody does.~August 12, 1981 Deseret News
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