Prepayment Penalty

Concept of Prepayment Penalty in the context of Real Property

A short definition of Prepayment Penalty: A penalty under a note, mortgage, or deed of trust, imposed when the loan is paid before it is due.

Concept of Prepayment Penalty in the context of Real Property

A short definition of Prepayment Penalty: A penalty under a note, mortgage, or deed of trust, imposed when the loan is paid before it is due.