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Principal reduction occurs when a borrower makes payments that specifically reduce the original loan balance, disregarding interest or fees. The main goal is to lower the amount owed over time, thus decreasing future interest payments. More @Wikipedia
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- Banks Complete $6.3 Billion in Mortgage Write-Downs
- Bank Of America Starts Round 1 Of Mortgage Reductions
- Federal regulator stands by his principles on principal reduction
- Banks cutting principal on some mortgages: report
- Mortgage Principal Reduction: Why "Re-Equifying" Borrowers Could Exacerbate The Mortgage Mess
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- What Is Principal Reduction and Why You Should CarePrincipal reduction occurs when a borrower makes payments that specifically reduce the original loan balance, disregarding interest or fees. The main goal is to lower the amount owed over time, thus decreasing future interest payments.
- What Is Principal Reduction in Mortgage & How Does It Work?The idea of principal reduction involves decreasing the amount someone owes on a loan, not counting the interest portion. Finding ways to reduce the principal amount ensures borrowers have an easier time repaying the loan.
- How to Calculate Principal Reduction in Mortgage LoansThe principal reduction of a mortgage loan doesn't follow the monthly payments — only part of each payment goes toward the principal, while the rest goes toward the interest. With fixed monthly payments, the ratio between the principal and interest amount changes each month.
- PRINCIPAL REDUCTION: Definition, Calculations, and CalculatorA principal reduction (PR) is a reduction in the amount owed on a loan, most often a mortgage. As an alternative to foreclosure, a lender may grant a principal reduction to provide financial relief to a borrower.
- Principal Reduction: What It Is, How It Works - InvestopediaWhat Is a Principal Reduction? A principal reduction is a decrease in the amount owed on a loan, typically a mortgage. A lender may grant a principal reduction to provide...
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