Mortgage insurance is required — protects the lender from a loss if borrower defaults on the loan. (mvcu.com)
It's clear that no personal guarantee loans are profitable for borrowers because in case of default on a loan the borrower doesn't lose any personal assets. (personalmoneyservice.com)
If a borrower is considered in default on a loan, the lender may demand immediate, full repayment. (lendedu.com)