Insured Mortgage
Same as term insured loan: A loan indemnified against default by the borrower. Such loans may be a mortgage loan insured by a standard mortgage insurance policy or by FHA mortgage insurance. In the event of the death or default of the borrower, the mortgage insurance policy will either pay the mortgage principal entirely, or continues making payments.
Popular Real Estate Terms
Act of forcing an individual or business to do something against their will. It is a legitimate defense in court to reserve the effect of the compelled act. ...
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