An introduction to mortgage payment protection insurance. Mortgage Payment Protection Insurance (MPPI) is designed to cover the cost of your mortgage payments in the event that an accident, sickness or unemployment stops you from working.
Payment Shock – a sudden, large increase in the monthly mortgage payment as a result of an adjustable-rate mortgage or through a refinance with new financing terms. piggyback mortgage – a second mortgage that closes simultaneously with the first mortgage to reduce the total necessary down payment.
Bank Rate Loan Calculator Balloon Note Definition Balloon payment legal definition of Balloon Payment – A balloon note is the name given to a promissory note in which repayment involves a balloon payment. A balloon mortgage is a written instrument that exchanges real property as security for the repayment of a debt, the last installment of which is a balloon payment, frequently all the.Loan Payment Contract The New york city middle school art teacher had just completed her 120th payment on her mountainous student. "Devos ignored a litany of lies and misdirecting deployed by loan servicers under.