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Coverage for the mortgage usually a financial institution, in the event that the mortgage holder defaults on a loan also called private mortgage insurance.
Mortgage insurance is a form of decreasing term insurance that covers the life of the person taking out the mortgage. Death benefit provide for the payment of the outstanding balance of the loan. Coverage is in decreasing term insurance so that the amount of coverage decreases as the debt decreases.
A variant, mortgage unemployment insurance pays the mortgage of the policyholder who becomes involuntarily unemployed. Investment grade securities backed by a pool of mortgages. The issuer uses the cash flow from mortgages to pay interest on the bonds .
The importance and benefits of mortgage insurance policy in developing and developed countries cannot be overemphasized.
Mortgage insurance is a form of decreasing term insurance that covers the life of the person taking out the mortgage. Death benefit provide for the payment of the outstanding balance of the loan. Coverage is in decreasing term insurance so that the amount of coverage decreases as the debt decreases.
A variant, mortgage unemployment insurance pays the mortgage of the policyholder who becomes involuntarily unemployed. Investment grade securities backed by a pool of mortgages. The issuer uses the cash flow from mortgages to pay interest on the bonds .
The importance and benefits of mortgage insurance policy in developing and developed countries cannot be overemphasized.