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curtailing the loan principal

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Guest	Posted: Thu Aug 20, 2009 6:13 pm    Post subject: curtailing the loan principal Like 0 Dislike 0 when i send my mortage payment on the invoice it states principal curtailment can you explaine what that means to me
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Thu Aug 20, 2009 7:03 pm    Post subject: Like 0 Dislike 0 Additional payment paid directly against your mortgage loan's principal balance
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Fri Aug 21, 2009 2:21 am    Post subject: Like 0 Dislike 0 Hi Guest, Principal curtailment refers to the reduction in the principal balance due to extra payments made towards the loan. It means the payments you make in excess of the regular monthly payments are applied to the principal. Thus, if you make excess payments, the amount of interest you pay over the term of your loan is also reduced and you save quite an amount of money throughout the life of the loan.
brownwalter09 Joined: 10 Aug 2009 Posts: 37 0.00 Dollars($)	Posted: Wed Aug 26, 2009 12:54 am    Post subject: Like 0 Dislike 0 Principal Curtailment – Borrowers can send extra payments to reduce their principal balance. Curtailments are not a significant contributor to prepayments.
Edna Guest	Posted: Fri Oct 15, 2010 10:54 am    Post subject: principle curtaillment Like 0 Dislike 0 Thanks for the info.

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