This is a kind of prepayment that decreases an outstanding principle balance on a mortgage loan by repaying a lump sum amount or increasing an individual’s monthly payment. This will, in turn, decrease the loan maturity period.
Curtailment
This is a kind of prepayment that decreases an outstanding principle balance on a mortgage loan by repaying a lump sum amount or increasing an individual’s monthly payment. This will, in turn, decrease the loan maturity period.
