Retire (a debt)
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Retire (a debt)
To pay off the principal on a loan, thereby fulfilling the obligation under the loan contract.
See also amortization, satisfaction piece.
Example: When Smith made the last monthly payment on his mortgage loan, he retired the debt.
Example: Jones arranged to retire her home improvement loan by paying an amount equal to the remaining principal balance.
See also amortization, satisfaction piece.
Example: When Smith made the last monthly payment on his mortgage loan, he retired the debt.
Example: Jones arranged to retire her home improvement loan by paying an amount equal to the remaining principal balance.
| Retention Pond, Retaliatory Eviction | |
| Retrospective Appraisal, Return On Investment (ROI) |
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Retire (a debt)
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Barron's Real Estate Dictionary
Dictionary of Real Estate Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.
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