MORTGAGE GUARANTEE INSURANCE,
Definition of MORTGAGE GUARANTEE INSURANCE:
Meaning of MORTGAGE GUARANTEE INSURANCE: Coverage for mortgage borrowers (usually financial institutions) in the event of a mortgage default. It is also called personal mortgage insurance (PMI).
Literal Meanings of MORTGAGE GUARANTEE INSURANCE
Meanings of MORTGAGE:
Designate the lender (property) as a loan collateral.
A legal arrangement under which a bank or other lender lends money in return for interest on the lender's property, provided the transfer of the property ends with the repayment of the loan.
Sentences of MORTGAGE
The farm was mortgaged
I deposited one lakh cash and took out the rest of the mortgage
Synonyms of MORTGAGE
advance, ■■■■, mortgage, guarantee, put up as collateral, credit
Meanings of GUARANTEE:
A formal promise or guarantee (usually in writing) that certain conditions will be met, especially if the quality and durability of a product does not match the brand and will be repaired or replaced.
Regular obligation to repay debts to others or to perform duties with others in a pre-arranged manner.
Provide formal guarantees or promises, especially certain conditions that must be met in connection with products, services or transactions.
Sentences of GUARANTEE
We offer a 10 year warranty against rust.
The thief guaranteed to get at least 20 ounces of gold from the landfill.
Synonyms of GUARANTEE
compact, contract, assurance, understanding, agreement, promise, commitment, warrant, undertaking, arrangement, warranty, settlement, covenant, bond, pledge
Meanings of INSURANCE:
Procedures or agreements used by companies or government agencies to guarantee compensation for certain losses, injuries, illnesses or deaths in return for payment of premiums.
Sentences of INSURANCE
Maintaining a high standard of personal conduct is an excellent guarantee against personal problems.
Synonyms of INSURANCE
preventive measure, indemnification, safety measure, shelter, provision, financial protection, safeguard, precaution, immunity, defence, surety, security, indemnity, cover, protection