The bill, approved in mid-July, protects homeowners from paying millions of dollars in unnecessary PMI premiums by providing for automatic cancellation of the insurance once homeowners have 22 percent of equity in their properties. (realtormag.realtor.org)
He's also been a key spokesperson for reducing the tax rates on capital gains and depreciation recapture, and he helped push for automatic cancellation of private mortgage insurance. (realtormag.realtor.org)
But the Homeowners Protection Act requires automatic cancellation when the mortgage reaches 80 % loan - to - value ratio. (homebuyinginstitute.com)