"@TheStonepedo: Actually to get to preferred status today, most people have to have flied during the good old days of free drinks.
But clearly you don't travel frequently for your job to realize all the perks that come with getting upgraded to first class."
Sorry this took so long. I just now noticed that I had a message.
The biggest problem I have in getting rid of PMI is that I have to wait until I get to 80% LTV with the mortgage. Luckily, the area I am in is doing ok but it will still be a while before I get there.
The other thing that complicates my re-financing is that I pre-paid a bunch of the PMI up front and now it is very low ($6/month). If I get a new mortgage, I have to do it all over again and either prepay again or have it return to normal levels.
Unless your new loan gets you close to the %80 mark or you are going to sell soon, you may want to consider paying upfront money on your PMI. My upfront payment will be worth it in another year or so.
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