Reamortization is the process of changing a borrower’s monthly payment amount such that the payments cover the accumulated interest and the whole principle of a loan by a particular date. Amortized loans typically have the same monthly payment for the duration of the repayment period. Still, in some circumstances, the lender needs to recalculate the prices for the loan to be paid off by a particular end date.
Reamortize
Updated 04/29/2024
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