Definition of overborrow
- Don't overborrow against your home. Keep mortgage debt below 80 percent of your remodeled home's new appraised value, so you won't be required to take out private mortgage insurance on the new loan—or end up eating macaroni and cheese for the next 10 years.
- —Elizabeth Brewster
- Some students get into trouble because they overborrow. Although the loans are intended to cover education expenses, students can apply for more than they would need for tuition, books and fees.
- —Tim Sheehan
- The bank itself had inadequate capital. And it permitted its directors and their partners to overborrow.
- —Susan Lee