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Payment protection insurance (PPI), also known as credit insurance, credit protection insurance, or loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt.
Premium financing is the lending of funds to a person or company to cover the cost of an insurance premium.Premium finance loans are often provided by a third party finance entity known as a premium financing company; however insurance companies and insurance brokerages occasionally provide premium financing services through premium finance platforms.
The FHA does not make loans. Rather, it insures loans made by private lenders. [21] The first step in obtaining an FHA loan is to contact several lenders and/or mortgage brokers and ask them if they are FHA-Approved by the U.S. Department of Housing and Urban Development to originate FHA loans.
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.
The corporation must pay its shareholder(s) compensation as bonuses equal to or less than the payment made in the prior tax year, or 95% of the corporations taxable income earned in the taxable year ended December 31. [11] Consequently, a loan-out corporation experiencing increasing revenues will benefit from the use of fiscal year tax deferral.
“The longer you make payments on a loan or save money for a down payment, the better qualified you are as a borrower.” Exceptions to mortgage seasoning Not all funds are subject to mortgage ...
Demand loans are short-term loans [2] that typically do not have fixed dates for repayment. Instead, demand loans carry a floating interest rate, which varies according to the prime lending rate or other defined contract terms. Demand loans can be "called" for repayment by the lending institution at any time. [3] Demand loans may be unsecured ...
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. CPI, also known as force-placed insurance and lender placed insurance, [1] may be classified as single-interest insurance if it protects the interest of the lender, a single party, or as dual-interest insurance coverage if it protects the interest of both the lender and the ...