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Glossary Term: PREPAYMENT

Definition(s) for PREPAYMENT:


1. ) refers to the unscheduled partial or complete payment of the principal amount outstanding on a mortgage loan or other debt before it is due.

2. ) payment of the mortgage loan before the scheduled due date; may be Subject to a prepayment penalty.


See Also:
BREAK-EVEN PREPAYMENT RATE, CONSTANT PREPAYMENT RATE (CPR), PREPAYMENT ESTIMATE, PREPAYMENT OR PREPAYMENTS, PREPAYMENT PENALTY, PREPAYMENT RATE, PREPAYMENT RISK, PREPAYMENT SPEED, ZERO PREPAYMENT ASSUMPTION, PREPAYMENT PENALTY, NET PREPAYMENT INTEREST SHORTFALL, HARD PREPAYMENT CHARGES, PREPAYMENT PERIOD, PREPAYMENT CHARGE, PREPAYMENT CHARGE PERIOD, PREPAYMENT INTEREST EXCESS, PREPAYMENT INTEREST SHORTFALL, SENIOR PREPAYMENT PERCENTAGE


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