A loan that requires both interest and principal with each payment so that the level payment will be adequate for amortization over the loan's term. Simply put, the total of all monthly mortgage payments will fulfill the terms of the loan.
Related information about direct reduction mortgage:
- Direct-Reduction Mortgage: Definition from Answers.com
loan that requires both interest and principal with each payment such that the level payment will be adequate for amortization over the loans term.
- What is direct reduction mortgage (DRM)? definition and meaning
Definition of direct reduction mortgage (DRM): Mortgage loan in which at least a portion of each installment payment goes toward reducing the principal ...
- Definition of direct reduction mortgage
direct reduction mortgage -- a type of mortgage in which at least a portion of each payment is applied directly to reduce the amount of outstanding principal.
- Anatomy of a Direct Reduction Mortgage - Dukes Academy ...
Direct Reduction Mortgage: A mortgage that requires equal payments of a fixed amount for each period that includes both principal (loan recapture) and interest.
- What is direct reduction mortgage? definition and meaning
Definition of direct reduction mortgage: A loan that requires both interest and principal with each payment so that the level payment will be adequate for ...
- San Mateo Credit Union - Definitions
Direct Reduction Mortgage: An amortized mortgage. One on which principle and interest are being computed on the remaining balance. Discount: A loan funded ...
- Real Estate and Mortgage Glossary
Devisor: A testator who leaves real estate. Direct Reduction Mortgage: An amortized mortgage. One on which principal and interest are being computed on the ...
- STRONG vs. STONEHAM CO-OPERATIVE BANK, 357 Mass. 662
... properties at 6 Call Street and 15-17 Pollard Street entitled, "Agreement for Changes on Direct Reduction Mortgage" (G. L. c. 170, Section 24, subsection 8).