If you have a mortgage, you might have PMI. PMI, or “private mortgage insurance” protects the bank if something hfappens and you can’t pay. Certain types of loans require this and set different sets of rules. My FHA mortgage, for example, said I had...
Every month I overpay my mortgage. Only a fraction goes to reduce the debt–most goes to taxes, escrow, and PMI. An extra payment here, ten dollars there. It all adds up in the end. I’m not close to paying it off yet but I’m hoping to be close to the...
