I didn't see price drop at all, it probably went up 5-10% YOY in the area our property is located.

Plus I think one more price drop and investors would have realized how much of a good deal the property was because the listing was done very poorly.

Another thing I noticed is that your bathroom has a drop ceiling and those tile inserts aren't meant for residential use.

Lenders are required to drop PMI when a mortgage's LTV ratio reaches 78% through a combination of principal reduction on the mortgage and home-price appreciation.

he's right, just look at the stock market run-up from March lows (fed emptying its clip didn't stop the drop and ridiculous economic indicators have not stopped this run-up (S&P rallied on days that showed huge unemployment #s...) ).

I have no idea if/how lenders act upon value dropping below the loan threshold.In my case, I am considering this because I am in a 15yr loan and 30yr cashout refinance, although not helping with the interest, would lower my payments and gives me cash reserve in case the situation gets worse or an opportunity comes up.

@Alexander Roeschmann I personally think that there will be a drop in prices in the next 6 months to a year.

The goal is to buy in the path of progress, and when equity allows you can drop MI and possibly do a garage conversion to create another unit and additional income. 

@Gerald Lano Google Earth and I think even Google maps allow you to drop pins and label them whatever you want.

Do those liens drop off after auction?