What is Principal Curtailment? - Sapling
...A principal curtailment is a mortgage payment sent in by a homeowner before it's due in order to reduce the principal balance on the mortgage. Individual mortgage contracts also come with their own principal curtailment payment terms and conditions....
https://www.sapling.com/8366693/principal-curtailment
Mortgage Curtailment: Definition and Tips To Apply
...The longer you practice mortgage curtailment, the more successful it becomes. You lower the amount of principal still owed and the amount of interest you must...
https://www.houseincity.com/mortgage-curtailment/
Definition of Mortgage Curtailment - Sapling
...Curtailment of mortgage payments is a process by which a mortgagor can shorten the life of a mortgage and lessen the total amount of mortgage payments due. A borrower pays an additional amount ? or amounts ? to pay down the principal balance, in addition to the regularly scheduled payments....
https://www.sapling.com/6850947/definition-mortgage-curtailment
Principal Curtailment - propertylogy
...Principal curtailment refers to making larger monthly payments towards a mortgage with the excess to what is necessary going towards reducing the principal balance left on the loan. In other words, principal curtailment is a form of prepayment on a loan. Homeowners who wishes to pay down their home loans faster tend to use this as a simple technique to bring forward the day in which they can ......
https://www.propertylogy.com/academic/principal-curtailment/
Curtailment - Glossary of CRE Terms - Adventures in CRE
...Curtailment is a type of prepayment that reduces the outstanding principal balance of a mortgage loan. It can be done through a lump sum payment or by increasing monthly payments....
https://www.adventuresincre.com/glossary/curtailment/
Loan Delivery Job Aids: Principal Curtailments - Fannie Mae
...A principal curtailment is the application of funds that are used to reduce the unpaid principal balance of the mortgage loan. Fannie Mae permits certain curtailments prior to loan delivery provided that the delivery data reflects the curtailment as described in Selling Guide Section B2-1.5-05, Principal Curtailments....
https://singlefamily.fanniemae.com/job-aid/loan-delivery/topic/loan_delivery_job_aids__principal_curtailments.htm
What does curtailment mean on a mortgage statement?
...What do curtailment mean on a mortgage loan payment? If you have a mortgage loan, the entirety of your monthly payment may be reduced if you have a loss of income....
https://answeringeverything.com/what-does-curtailment-mean-on-a-mortgage-statement/
Principal Curtailment Definition | Law Insider
...The Principal Curtailment option will provide funds for a standalone principal reduction for low- to moderate-income homeowners whose mortgages are impacted by a significant negative equity (>110% combined loan-to-value ratio) hardship....
https://www.lawinsider.com/dictionary/principal-curtailment
Mortgage Recast Vs Principal Payment: Maximizing Your Home Investment
...Understand the difference between mortgage recast vs principal payment. Learn how each affects your monthly payment, interest, and overall loan payoff strategy....
https://lawadvised.com/mortgage-recast-vs-principal-payment/