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The first tenant skipped out after 2 months, stiffing me for $800. Next tenant only wanted a six mon...
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Prepayment Penalty

A fee charged when a borrower pays a mortgage in full prior to the agreed upon date. The note and deed would advise of any such penalty.

See also:
  • Payment
  • Payment Cap
  • Personal Liability
  • PITI
  • Planned Unit Development
  • Plat
  • Points
  • Possession
  • Prepaid
  • Prepayment Penalty
  • Prequalification
  • Principal
  • Private Mortgage Insurance
  • Property Tax
  • PUD
  • Purchase and Sale Agreement

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