Real Estate Glossary



  Mortgage Insurance

A contract that insures the lender against loss caused by a mortgagor's default on a government mortgage or conventional mortgage. Mortgage insurance can be issued by a private company or by a government agency such as the Federal Housing Administration (FHA). Depending on the type of mortgage insurance, the insurance may cover a percentage of or virtually all of the mortgage loan. .

 

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Stephanie Smith, REALTOR,
Westfield, New Jersey Real Estate
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Coldwell Banker Residential Brokerage,
209 Central Avenue,Westfield, New Jersey 07090

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