PrivateMI is simply a better alternative for many home buyers because it is cancelable
and offers more flexibility.
It is written for a period of one year with non-cancelable
limits or up to two years for a policy with cancelable
including all renewal periods, and it must be cancelable
However, according to the statement, that agreement shouldn't be cancelable
by the lender because of a subjective acceleration clause.
The Durst Organization had acquired a 99-year lease on the land underneath the buildings about a year ago and had notified tenants on short-term, cancelable
leases that they would be cancelled.