PMI, which is also called private mortgage insurance, is protect that the lender may ask the buyer to purchase. In the event that the buyer defaults on their home loan and the home enters foreclosure, the lender has a way to recoup their losses.
What You Need to Know About Mortgage Insurance
Homeowners insurance and title insurance may not be the only kinds of insurance you need when you buy a home.
What Types of Coverage Are Included in Standard Home Insurance Policies? Let’s Take a Look
Every insurance policy is different and can provide certain levels of protection tailored towards the needs of the policy holder. However, there are some standard types of coverage that are included in most basic home insurance policies.
