Back to Glossary
January 19, 2023
Reamortization is the process of changing a borrower's monthly payment amount such that the payments cover the accumulated interest and whole principle of a loan by a particular date. Amortized loans typically have the same monthly payment for the duration of the repayment period. Still, some circumstances need the lender to recalculate prices for the loan to be paid off by a particular end date.
Related Topics
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?
What Does Foreclosure Mean?
What Is a HELOC Loan?