From: "Donna Dorn-Realtor, Long & Foster" 
Newsgroups: misc.consumers.house
Subject: Re: Removing PMI after home appreciation
Date: 6 Feb 2006 11:36:23 -0800
   posting-account=n7jEAg0AAADlH2oB_xGmSwbC3cy5nKcN

Sorry to disapoint you, but under the law the lenders are automatically
required to drop the PMI insurance from your mortgage once you've
reached the 20%. However that is based on the actual amount paid down.
Lenders are not required by law to take into consideration how much
your home has appreciated. It's based purely on the loan amount & how
much you have actually paid down on it.
The market value today of your home has nothing to do with the loan and
how much you owe on it.

Donna Dorn, Realtor, E-Pro
Long & Foster Real Estate Inc.
Bel Air, MD
Ph# 717-817-6288
email : donna.dorn@longandfoster.com
Website :  http://DonnaDorn.com