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By Jennifer Bailey

Mortgage companies rely on mortgage insurance to protect themselves from defaulting mortgage borrowers. If a mortgage buyer does not make the payments, then the insurance company pays to the mortgage company. Mortgage companies buy their insurance from insurance providers and pay premiums on the same. These premiums are then passed on to the buyers of the mortgage. Buyers may have to pay for the premiums on an annual, monthly or single-time basis. The insurance payments are added to the monthly payments of the mortgages. Mortgage insurance policies are also called Private Mortgage Insurance or Lender


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This entry was posted on Saturday, June 24th, 2006 at 5:24 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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