A:
Depending on the current value of your home vs. the mortgage, PMI may be necessary. Generally, if the mortgage is greater than 80% of the value, PMI will be required.

Q:
How can I open a 529 account but not have it count against my child if he wants to apply for scholarships?
A: If the owner of the 529 account is your Parents, a sibling, or a trusted friend with your child as the beneficiary, then it will not have to be reported.