We are trying to drop the PMI off our loan and had an appraisal done showing our property value at {$160000.00}. Our loan balance is {$120000.00}. Making our LTV 76 %. When we requested through Bank of America to drop our PMI, they refused saying we needed to be at 75 % LTV instead of the 80 % we feel we are entitled to under the Homeowner 's Protection Act. 
