Prepayment Privilege
Definition of "Prepayment privilege"
Clause in a mortgage that allows the borrower to pay more than the monthly amount and to retire the loan early without a penalty.
Popular Real Estate Terms
(1) Wide boards, generally two inches thick, attached to flooring or roof of a structure. (2) Light gauged ribbed metal sheets used for supporting a roof or floor. ...
Not attached to any parcel of land but merely a personal right to use the land of another. ...
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A step's edge. ...
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