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Lenders mortgage insurance - Definition and Overview |
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Lenders Mortgage Insurance (also known as LMI) is insurance payable to a lender when taking out a mortgage. It is an insurance in the case that the mortgagee is not able to repay the loan, and the lender is not able to recover its costs after foreclosing the loan and selling the mortgaged property.
The LMI may be payable up front, or it may be capitalized onto the loan.
See also:
- private mortgage insurance (PMI)
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Example Usage of insurance |
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KimmyQueen: @dsanson insurance companies though are still iffy about young males for what I understood, but young girls I can understand. |
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articlespath: State With The Costliest Auto insurance Rate: http://ping.fm/RDCsT |
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amtr01: If you can tell me I must have health insurance, I can stop you from behavior with high health risks. Like being GAY! Want to go there! |
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