| 释义 |
`1`private mortgage insurance (PMI) `2`
"Nolo Everybody's Legal Dictionary":
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.
See Topic: Consumer & Travel Real Estate |