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Refinance and Mortgage Encyclopedia - payoff

Payoff

The complete repaymentA loan is borrowed money that must be repaid. You have a choice of repayment plans if you received a of a loanTransfers for which the recipient incurs a legal debt and repayment is required over time, with or without, including principalThis term is used to mean the employer of an agent; or the amount of money borrowed, or the amount of, interestThis is the amount that is imposed when payment is remitted after the due date., and any other amounts due. Payoff occurs either over the full termThe time period by the end of which a debt must be fully repaid. Also refers to the maturity period of the loan or through prepayments.

Payoff

 
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