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MI,mortgage,Singer Island FL

You are here: Home / Archives for MI,mortgage,Singer Island FL

Singer Island FL Mortgage MI Detail

January 7, 2013 //  by Sonny Solomon

Mortgage insurance (MI) is a policy mandated by lenders to protect them from losses if a home buyer defaults on their loan. When the mortgage provider goes to relinquish a home, they are unlikely to recoup the full remaining balance on the mortgage. MI applies to first mortgages where the home owners are financing greater than 80% of the purchase price of the property. There is customarily a lump …

Category: Home BuyerTag: MI,mortgage,Singer Island FL, Singer Island FL

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