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Mortgage Terms: Payment Period Definition

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Mortgage Terms: Payment Period Definition

Payment period

Definition

The period over which the borrower is obliged to make payments.

On most mortgages, the payment period is a month, but on some it is biweekly.

Related Terms

Other terms related to 'Payment period' starting with the letter 'P'

Principal, Prepayment, Points, Prepayment penalty, PMI

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