Definition: a provision in a mortgage that allows the mortgagor to pay the mortgage debt ahead of time without penalty
Pronunciation: \(ˌ)prē-ˈpā-mənt\ \ˈklȯz\
Used in a Sentence: Since we had a prepayment clause in our mortgage we were able to pay off our mortgage early without any penalty.
Florida Real Estate License, Easy as 1,2,3! Join us for an informative livestream session as we delve into the essential steps to obtain your real estate license in Florida. Whether...
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