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Prepayment Penalty Clause

The two made history when their petition at Supreme Court, challenging the constitutionality of the clause that provides that.

That’s because the loan may contain a prepayment penalty clause, which states that if your loan is paid off within a specified period of time–often in the first three years–the lender will charge.

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Except as provided in subparagraphs (B) and (D) of this paragraph and in paragraphs (4) and (5), an employer shall pay the amount determined under section 1391 of this title, adjusted if appropriate first under section 1389 of this title and then under section 1386 of this title over the period of years necessary to amortize the amount in level annual payments determined under subparagraph (C.

The term “higher yielding investments” means any investment property which produces a yield over the term of the issue which is materially higher than the yield.

At no time did the banker point out the prepayment penalty or the due-on-sale clause in the documents. The bank represented its loan as one that would meet the borrower’s requirements, but prepared.

I. Introduction Index to Clauses. Looking for a clause to include in a Contract of Purchase and Sale? Use the index below to locate the clause you need.

Prepayment is the early repayment of a loan by a borrower, in part or in full, often as a result of optional refinancing to take advantage of lower interest rates.. In the case of a mortgage-backed security (MBS), prepayment is perceived as a financial risk-sometimes known as "call risk"-because mortgage loans are often paid off early in order to incur lower interest payments through.

The prepayment clause that will apply to you would depend on whether you. “We hope that any such move (abolishing of prepayment penalty) would happen from prospective effect and not from.

Also, instead of a standard prepayment penalty provision of 90 days interest. Regarding the unusual prepayment penalty clause, Laing said it.

Definition of PREPAYMENT CLAUSE: A Clause in some loan agreements that allows borrowers to settle the loan amount before the end of the loan term and not incur any prepayment penalties. The Law Dictionary Featuring Black’s Law Dictionary Free online legal dictionary 2nd Ed.

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