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What is interest in Arrears?

April 26, 2017arrears

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What is interest in Arrears?

3 Answers

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A simplified way to define Interest in Arrears, is that the current month’s payment pays the prior months interest. Interest in Arrears defines the manner in which most mortgage loans are amortized (paid) to maturity.

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Posted

A simplified way to define Interest in Arrears is that the current month’s payment pays the prior month’s interest. Interest in Arrears defines the manner in which most mortgage loans are amortized (paid) to maturity. Example: The October 1st payment will include interest from September 1st to September 30th.

0

Posted

A simplified way to define Interest in Arrears is that the current month’s payment pays the prior month’s interest. Interest in Arrears defines the manner in which most mortgage loans are amortized (paid) to maturity.