Definition: When Mortgage Insurance Stops is a legal term that refers to a situation in which a lender requires an additional fee or premium on loans, property purchases or mortgages in order to ensure they are insured against losses in case of default. The phrase "when mortgage insurance stops" means that if a lender decides not to insure the loan, it will require additional money from the borrower. The reason for this is often due to changes in market conditions or regulations that make borrowing more expensive or difficult to obtain. In other words, when mortgage insurance stops, lenders may charge an extra fee to borrowers who choose not to take out a loan with them. This can be particularly problematic for people who need to buy or renovate properties but don't have sufficient funds available at the moment. The definition of "when mortgage insurance stops" is that it's typically associated with a situation where a lender requires additional money from the borrower in order to cover the risk of default on their loan.
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