Wednesday, September 1, 2010
PMI - Home Mortgage
After this month's mortgage payment along with accelerated principal reduction we have dropped under 80% LTV meaning PMI could be dropped. I will call our Mortgage company tomorrow to do that. But this is a good milestone for us. Something we worked on for the past year considering we put 10% down when we bought the house.
So here's the question: Should we continue to pay down the mortgage OR save the extra principal payments to buy a new house?
I think I know what we should do... but let me hear your opinions.