re: Refinance to eliminate pmi?

From a tax payer's perspective I say it doesn't blow. If people don't want to pay PMI then they should save up enough money to give lenders a reasonable margin of safety in the event of housing declines, ie 20% DP, on any given house. shite, you're already getting subsidized cut-rate mortgages. Compare 7% rates to 3.5% on a $300k house. Compare that to 9%-12% back in the late 70's early 80's. Current mortgages are a great deal, PMI or not.