#money

Unethical but legal ways to make money. Part 71. Step 1. Every American with a mortgage is paying for private mortgage insurance, they may no longer legally owe. PMI is automatically added when your down payment is under 20%. Lenders are required by federal law to cancel it automatically when your equity reaches 22%. Most never do. They keep charging until you catch it. Step 2. Log into your mortgage account and pull your current loan balance. Go to zillo.com and check your home's current estimated value. Divide your loan balance by the home value. If the result is below 80%, your PMI should already be canceled. Call your lender today and demand immediate cancellation in writing. Step 3. Request a full refund of every PMI payment made after your equity crossed 20%. Under the Home Owner's Protection Act, your lender is legally required to refund unauthorized PMI charges. If they refuse, file a complaint with the Consumer Financial Protection Bureau at consumerfinance.gov. Step 4. Change American Home Owner overpays PMI for 14 months past the cancellation threshold. At $150 per month, that is over $2000 taken illegally. Your lender knew your equity crossed the threshold. They charged you anyway. Call today. Follow Broke System.