What Are Prepayment Penalties?
A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not have prepayment penalties - and if they do, they are only applicable for the first few years of the loan.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
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Business entity providing water services in a particular locality. ...
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Through the homestead exemption definition, we understand the legal instrument that provides physical and financial shelter in dire situations. The homestead exemption legal provision can ...
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Provision in a commercial lease providing a financial allowance for a tenant to finish the interior of a building according to individual requirements. ...
Land that has poor income potential, usually used in an agricultural sense meaning that the land is untellable, has poor access, is extremely steep, has suffered serious erosion, is ...
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