Term Mortgage

Tenant In Common Reading Term Mortgage 1 minute Next Testate

Definition:   a nonamortizing loan that normally calls for repayment of the principal in full at the end of the loan term

Pronunciation:    \ˈtərm\ \ˈmȯr-gij\

Used in a Sentence:    Our term mortgage required the entire loan be paid off at the end of the 30 year term.

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