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March 29, 2005
PMI Mortgage Insurance Defined
This site has good explanations for financing terms. Here's the explanation of PMI Mortgage Insurance.
Insurance against a loss by a lender in the event of default by a borrower (mortgagor). A private insurance company issues this insurance. The premium is paid by the borrower and is included in the mortgage payment.
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Posted on March 29, 2005 12:27 PM by Financ81.
Filed in Mortgage Calculator under financing terms.
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