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Eliminating Your Mortgage Insurance Premium

2 Frugal Dudes December 3, 2019 144 1

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    Eliminating Your Mortgage Insurance Premium
    2 Frugal Dudes

Episode 135: Your mortgage insurance premium is meant to protect the bank if you default on your mortgage. Once you pay down the loan, you are able to eliminate the charge. Tune in to discover how Kevin eliminated his mortgage insurance premium to save $100 per month on this episode of the Where Our Money Went series.

How to Eliminate Your Mortgage Insurance Premiums

In recent episodes, Kevin has been providing updates on the ongoing saga of eliminating his mortgage insurance premiums. He received a letter from his mortgage company saying he had paid down his mortgage enough to eliminate this extra fee. Unfortunately, he had to bear the onus of the process and apply to have it removed.

Kevin went through the process and got his mortgage insurance premium removed and has just received the confirmation, so he’s now saving $100 a month! He plans on reinvesting that money into paying down the principal of the mortgage. The saga of the mortgage insurance premium is now complete.

Take it upon yourself to see if you’re reaching eligibility for removing your mortgage insurance premium. This opportunity to save can be a starting point for investing or paying your mortgage down quicker.

Show Links & Related Episodes


Disclaimer: Kevin and Sean are not professional financial advisors. Do not take any advice they give without first speaking with a professional and performing your own due diligence.

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