PRIVATE MORTGAGE INSURANCE (PMI)
\pɹˈa͡ɪvət mˈɔːɡɪd͡ʒ ɪnʃˈʊ͡əɹəns pˌiːˌɛmˈa͡ɪ], \pɹˈaɪvət mˈɔːɡɪdʒ ɪnʃˈʊəɹəns pˌiːˌɛmˈaɪ], \p_ɹ_ˈaɪ_v_ə_t m_ˈɔː_ɡ_ɪ_dʒ ɪ_n_ʃ_ˈʊə_ɹ_ə_n_s__ p_ˌiː__ˌɛ_m_ˈaɪ]\
Definitions of PRIVATE MORTGAGE INSURANCE (PMI)
Sort: Oldest first
-
Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less than the amount owed the lender (the mortgage plus the costs of the sale). A home buyer who makes less than a 20% down payment may have to purchase PMI.
By Oddity Software
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).
Nearby Words
- private label rights
- private law
- private limited company
- private line
- private morality
- private mortgage insurance (PMI)
- private network
- private nuisance
- private part's
- private parts
- private passenger automobile