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Term of the Day
payoff statement
payoff month
reduction certificate
Definition
The document signed by a
lender
indicating the
amount
required to
pay
a
loan
balance
in full and satisfy the
debt
; used in the
settlement
process to
protect
both the
seller's
and the
buyer's
interests
.
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payment terms
payment-in-kind ...
payoff
payoff diagram
payoff month
payoff statement
payor
payout
payout period
payout phase
payout ratio
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reduction certificate
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