PMI at Legal Glossary

What is it? See private mortgage insurance.

Law Definition Added By: Chloe

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Other Similar Legal Terms:

Law Terms adjustable rate mortgage (ARM) is A mortgage loan with an interest rate that fluctuates in accordance with a designated market indicator -- such as the weekly average of one-year U.S. Treasury Bills -- over the life of the loan. To avoid constant and drastic fluctuations, ARMs typically limit how often and by how much the interest rate can vary.

Law Terms rollover is A delayed tax that allows you to apply the profit you make selling your old house to pay for the new one without paying capital gains taxes on the profit. In order to rollover the profits, the new house must be more expensive than the old and the two sales must occur within two years of each other.

Law Terms attestation is The act of watching someone sign a legal document, such as a will or power of attorney, and then signing your own name as a witness. When you witness a document in this way, you are attesting -- that is, stating and confirming -- that the person whom you watched sign the document in fact did so. Attesting to a document does not mean that you are vouching for its accuracy or truthfulness. You are only acknowledging that you watched it being signed by the person whose name is on the signature line.

Law Terms ADR is See alternative dispute resolution.

Law Terms appraiser is A person who is hired to determine the current value of real estate or other property.