👉 Mortgage Guaranty Insurance is like an insurance policy that protects your home from being underwater because you've decided to take out a mortgage with a high interest rate. It's like making sure you're always in good standing, just in case someone decides to sue you later on.
Let me give you an edgy example sentence: "You owe the bank $5000 on that mortgaged condo - and you think your $1000 mortgage guaranty insurance can cover all of it? Not so fast! Remember, if you ever need to file bankruptcy, I'm there to bail you out. So don't forget about this important piece of documentation."
