What is mortgage payment protection?

Answer Mortgage payment protection, also referred to as mortgage insurance, is the form of insurance that protects a co-purchaser from bearing the entire weight of a mortgage if the other co-purchaser bec... Read More »

Top Q&A For: What is mortgage payment protection

What is payment protection insurance?

Payment protection insurance is the form of insurance that protects a person against an inability to pay back a debt due to an accident, sickness, unemployment or death. The insurance is usually pr... Read More »

What is the definition of a mortgage payment?

A mortgage payment is a monthly amount paid to a lending institution to pay off the debt incurred in the purchase of a home. The mortgage is a lien against the home. The home itself is the collater... Read More »

What is a mortgage payment holiday?

A mortgage payment holiday is an agreement between a bank and a mortgage holder to temporarily suspend monthly mortgage payments. The suspension may be for one month or for a longer period. Inter... Read More »

What is the average mortgage payment in the USA?

According to the National Association of Realtors, the average monthly mortgage principal and interest payment is $778 as of May 2010. The monthly mortgage payment constitutes 15.4 percent of your ... Read More »