|
|
AMORTIZATION
|
|
| The repayment
of a mortgage debt which consists of a portion which will be applied
to pay the accruing interest on a loan, with the remainder being
applied to the principal. Over time, the interest portion decreases
as the loan balance decreases, and the amount applied to principal
increases so that the loan is paid off (amortized) at the end of a
fixed time. |
|
|
BACK TO GLOSSARY |
|
| |
|
|
|
|
 |
|
Simplicity
Mortgage - 6180
E. State Street, Suite #5 - Rockford, IL.
61108
|
| |
|
|
|
|
|
|
