Definition: a provision in a mortgage that requires the borrower to pay a penalty in money if the mortgage payments are made in advance of the normal due date or if the mortgage is paid in full ahead of schedule
Pronunciation: \ˈpe-nəl-tē\ \ˈklȯz\
Used in a Sentence: We chose a mortgage without a penalty clause because we planned on paying it off early.
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What are your plans for 2025? Now, if you're thinking, "It's only October," you're absolutely right! It's October 4th, and believe it or not, there are only 89 days remaining...
How to Start a Full-Time Real Estate Career in Florida Thinking of embarking on a real estate career in the Sunshine State? Florida presents lucrative opportunities for real estate professionals...
How to Start a Full-Time Real Estate Career in Florida Thinking of embarking on a real estate career in the Sunshine State? Florida presents lucrative opportunities for real estate professionals...
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