Myths Shattered, facts revealed. Unveiling the truth.
10 Jun 2024 · 0 min
0:23
In this brief segment, the speaker addresses a common misconception about mortgage insurance cancellation. The myth claims that reaching 20% equity automatically ends mortgage insurance coverage. The fact clarifies that while some loan products do automatically cancel the insurance at that equity level, many require the borrower to submit a formal request or undergo an appraisal to verify the equity threshold before the insurance can be terminated.
