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.

Thanks.

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