Did you purchase your house with conventional financing and less than a twenty percent down paying. If you did then you are paying private mortgage insurance. PMI as it is abbreviated protects the lender in the event of a default of the borrowers part. It is a fee that does nothing for the homeowner. It is a waste of money! For this reason, most people want to terminate private mortgage as soon as they are able. In the article at Realty Biz News, see how you can cancel your PMI.