Refinancing to Drop PMI: The 20% Equity Trigger, the Appraisal Gamble, and When the Math Actually Works

Paying PMI every month? You may already have 20% equity and not know it. Fannie Mae's actual cancellation rules, the FHA life-of-loan MIP trap, the appraisal gamble, and Jacksonville math — plus when refinancing to drop PMI backfires at 7.4% rates.