Question

In: Finance

Insurance that protects the lender in the event that the borrower does not repay the mortgage...

Insurance that protects the lender in the event that the borrower does not repay the mortgage is called:

Group of answer choices

good faith insurance.

homeowners’ insurance.

mortgage insurance.

settlement insurance.

Solutions

Expert Solution

Insurance that protects the lender in the event that the borrower does not repay the mortgage is called Mortgage Insurance.

In other words Mortgage insurance is an insurance that protects a mortgage lender in case the borrower defaults on payments or is unable to meet the obligations of the mortgage

jeff jeffy answered 1 year ago
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