Business / Real Estate / Mortgage Insurance: A kind of insurance policy that will pay off the mortgage balance in the event of death, and in some policies, disability. Premiums are paid with the regular monthly mortgage payment.
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Insurance Verb Synonyms: assurance, surety, indemnity, indemnification, guarantee or guaranty, warranty, bond, security, protection, cover
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Business / Real Estate / Mortgage Insurance Premiums (MIP): Most FHA loans require the borrower to pay two mortgage insurance premiums: one upfront paid at closing, the second is an annual premium based on the loan balance each year. MORE
Business / Taxes / Federal Housing Administration Mortgage: Federal Housing Administration (FHA) mortgages, which are made by private lenders, resemble conventional mortgages in many ways, but there are some significant differences. An FHA mortgage is governme MORE
Business / Finance / Private Mortgage Insurance (PMI): Policy protecting the holder against loss resulting from default on a mortgage loan. MORE
Business / Loan / Private Mortgage Insurance: Private Mortgage Insurance (PMI or MI)- Insurance required to be paid for by the borrower to protect the lender in the event payments are not made on time; most often required when the loam amount exc MORE
Business / Finance / Multiple Peril Insurance: Insurance policy that covers a wide variety of property damage. MORE