Mortgage Life Insurance Financial Glossary
What is it? A term life insurance policy for the amount of the declining balance of a loan that is secured by a mortgage or deed of trust. This is not the same as mortgage insurance and should not be reported as such.Finance Term Definition Added By: Mason
The Mortgage Life Insurance definition has been viewed 583 Time(s)!
Send To Friends!
If you'd like to send the Mortgage Life Insurance definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Mortgage Life Insurance. If you need any more information on this term, please don't hesitate to contact us.
Other Similar Finance Terms:
Financial Term Downpayment is The difference between the sales price of real estate and the mortgage amount.Financial Term Bond Ratings is Assessments of the financial strength of a bond issuer. Rating agencies like Moodys or Standard & Poors assign a particular ranking - from top-quality AAA to below investment grade D - to indicate the bond issuers creditworthiness. Lower-rated bonds tend to pay higher interest rates.
Financial Term Second Mortgage is A mortgage recorded subsequent to the first mortgage or otherwise made junior to another mortgage. A second mortgage is always subordinate to the first mortgage on the same property (see Refinancing).
Financial Term Acceptance letter is An offer of life assurance that sets out the terms.
Financial Term Capping is A power under which the Government may limit the maximum level of local authority spending or increases in that level year on year, which it considers excessive. It is a tool to restrain increases in council tax.