I have asked my lender to drop the PMI ($330 / mo!) but they refuse because I've been late on a few payments. Doesn't it make sense that if they drop the PMI I would be better able to stay current on the loan as it would cost $330 less each month? Nor can I refinance because nobody else will make a loan to me because of those late payments. I never would have been late had my payments been $330 cheaper. AND, I never would have taken the loan if the $330 monthly charge would have been disclosed to me prior to closing. Any suggestions?