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 executed.

Question

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According to the Homeowners Protection Act, a PMI policy must be automatically terminated when a homeowner's equity reaches 22% of the property value at the time the mortgage was executed. This means that the homeowner has paid off enough of the loan and accrued enough home value to no longer require PMI coverage.

The Homeowners Protection Act Requires That a PMI Policy Be