Search results
Results from the WOW.Com Content Network
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 ...
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.
A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes or homeowner's insurance ...
When you buy a home with a mortgage, that mortgage is the first or primary lien on the property. A second mortgage is an additional lien tied to your home. In the case of down payment assistance ...
In addition, HOEPA requires that borrowers undergo pre-loan counseling and restricts fees and penalties. Historically, borrowers with poor credit are offered significantly more expensive loans.
Texas: The My First Texas Home program is a low-interest 30-year loan with up to 5% interest-free down payment assistance. The program allows borrowers to work through this program to obtain an ...
The borrower, who pays an insurance premium of 0.5% on declining balances for the lender's protection, receives two benefits: a careful appraisal by an FHA inspector and a lower interest rate on the mortgage than the lender might have offered without the protection. In some states, the FHA inspection may be waived for smaller FHA loans, usually ...
For premium support please call: 800-290-4726 more ways to reach us