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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.
GAP insurance covers the amount on a loan that is the difference between the amount owed and the amount covered by another insurance policy. [1] Some GAP policies also cover the deductible. [3] This coverage is marketed for low down payment loans, high interest rate loans and loans with 60 month or longer terms. GAP insurance is typically ...
Down Payment Resource: Down Payment Resource, a private company, provides various resources for homebuyers, real estate agents and lenders, including an eligibility and assistance lookup tool. FAQ.
State Health Insurance Assistance Program (SHIP). If you receive Medicare, find free, unbiased help through your local SHIP program . Consider other credit or loan options
Buying a home, for most people, is the biggest and priciest purchase they will ever make. Just saving up for a down payment traditionally can take years. Check Out: Real Estate: 10 Housing...
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
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 ...
Mortgage insurance is a separate insurance policy in addition to your homeowners insurance and depending on the down payment made to purchase your home, your lender may require it.