Description

Also referred to as PMI, this insurance policy protects the mortgage lender from a default by its

mortgage borrower.

This refers to the sale of real estate for a price that is less than the balance owed on a loan secured by

the property.

This refers to the clause in a real estate sales contract that makes the agreement conditional on one or

more factors or events, such as the availability of financing or the results of a property inspection.

this. is the ratio of the maximum loan that a lender is willing to make to purchase a property divided by

the cost of the property.

This term is used to describe the situation in which the market value of a parcel of real estate is lower

than the amount owed on the loan used to purchase the parcel.