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payoff |
Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia, Hutchinson | 0.02 sec. |
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payoff The amount necessary to pay a loan in full,with all accrued interest and fees and the prepayment penalty, if applicable. Payoff figures are usually provided to a closing company as correct on a given day.If closing is delayed,the lender has also provided a per diem charge to increase the payoff for every day of delay. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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