Stuck in a pmi nightmare

[kellia]

If you've refinanced, are they still required to drop PMI when you hit 78% of the original purchase price? Or does it have something do with the new loan amount?

Geez, and I thought our $50/mo PMI was bad!

 

[EMAW_KSU]

If you've refinanced, are they still required to drop PMI when you hit 78% of the original purchase price? Or does it have something do with the new loan amount?

Geez, and I thought our $50/mo PMI was bad!

The value would be at the time of the new loan.