The Homeowners Protection Act requires that a PMI policy be terminated automatically when a homeowner's equity reaches ________ percent of the property value at the time the mortgage was issued.

Question

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The Homeowners Protection Act mandates that a PMI (Private Mortgage Insurance) policy must be automatically terminated when a homeowner's equity reaches 22 percent of the property value at the time the mortgage was issued. This is designed to protect homeowners from unnecessary PMI payments once they have sufficient equity in their home.

The Homeowners Protection Act Requires That a PMI Policy Be