Mortgage Terms Used by Dreyer Group Mortgages
We have put together some basic information on mortgage terminology, mortgage costs and some tips on how to make an informed decision on your mortgage needs. There are 20 entries in this glossary.
|Mortgage Life Insurance||
Life insurance that pays off the balance of the mortgage in the case of the borrowers death (i.e., if a spouse dies, the remaining spouse would not have to worry about mortgage payments â€“ it would be paid in full). The monthly cost of getting this insurance through the lender is typically less costly than similar coverage obtained directly from an insurance company.