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Glossary - Don Wixom, Nampa, Caldwell, Boise, Eagle, Meridian

Real Estate Terms

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Mortgage InsuranceA contract that insures the lender against loss caused by a mortgagor's default on a government mortgage or conventional mortgage. Mortgage insurance can be issued by a private company or by a government agency such as the Federal Housing Administration (FHA). Depending on the type of mortgage insurance, the insurance may cover a percentage of or virtually all of the mortgage loan. 

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