Mortgage Question Refinance 0% equity, want to get rid of PMI.?

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Mortgage Question Refinance 0% equity, want to get rid of PMI.?

Hi.

Here are the details. 6.8% 40 year loan First 10 are interest only. 192k balance on a house valued at 192k (zillow.com) I have PMI. Bank Of America holds my note. I am current on my loan and can afford it. Do NOT have the $$ to pay closing costs.

I want to take advantage of all the stuff happening. I Want to get rid of the PMI, I want to lower the interest rates, and I want to start working on the principal and I want to lower my payments (Of course)

Anyone with a good understanding of the system and new “PLANS” that has any suggestions?

Thanks A TON

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