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.
How do you earn bigger commissions in real estate? In this week's episode of State of Real Estate, you'll learn the secrets to earning bigger real estate commissions. Join us...
How do you earn bigger commissions in real estate? In this week's episode of State of Real Estate, you'll learn the secrets to earning bigger real estate commissions. Join us...
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