How can I get rid of PMI on a FHA loan?

a year ago we bought a house in southern California. Our mortgage broker told us that we could get the PMI removed after putting some elbow grease into the forclosure that we purchased and have it reappraised to show that we had 20% equity in the house even though we bought it with nothing down. We have an FHA... show more a year ago we bought a house in southern California. Our mortgage broker told us that we could get the PMI removed after putting some elbow grease into the forclosure that we purchased and have it reappraised to show that we had 20% equity in the house even though we bought it with nothing down. We have an FHA loan and with the housing crisis I don't think we could increase the value of our house no matter how much we put into it. With my husband laid off for the last 6 months that $500 of PMI that is tacked on to our mortgage is making even harder not to fall behind in payments. I called HUD and they said that we had to have the PMI for 5 years min. but that is not what we were told when we signed the papers and bought the house. Is there anything we can do to get rid of this PMI so that it makes our mortgage more affordable with only 1 income and unemployment?
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