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Definition of Prepayment from Mortgage Glossary

Prepayment

Full or partial payment of the principal before the due date. This might occur if the borrower makes extra payments, sells the property, or refinances the existing loan.

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    Related Mortgage Definitions:
    Prepayment
    Prepayment Full or partial payment of the principal before the due date. This might occur if the borrower makes extra payments, sells the property, or refinances the existing loan. ... more...


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