Mortgage Terms Glossary

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Thursday, July 24 2008

Mortgage Terms Glossary

Amortization –

Literally to "kill off" (root: mort) the outstanding balance of a loan by making equal payments on a regular schedule (usually monthly). The payments are structured so that the borrower pays both interest and principal with each equal payment.

Source:

http://www.plazaareaneighbors.com/index.php?pageId=423602&action=mortgage_glossary

Posted by: Rolando Trentini AT 09:00 am | Permalink | 0 Comments | Email

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