Mortgage insurance - MI
In Real Estate terminology how do you define what "Mortgage insurance - MI" mean exactly?
It's the kind of insurance that covers the lender against some of the losses as a result of a default on a home loan.
International Level: Politics 101 / Political Participation: 0 0%
My definition is the lender never looses. The recent bailout of certain banks is a good example of that. They claimed losses but were able to pay their Execs millions!
International Level: Junior Politician / Political Participation: 78 7.8%
We interrupt Mortgage Insurance MI to share philosophy from past times:
Today is: 14th July (GMT), in history on the 14th of July, 1970 AD the following death happened:
Preston S Foster: Actor (Waterfront, Gunslinger), dies at 69