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the rate of interest) paid by the borrower to the lender for the term of the loan.

Mortgage Note Definition While most people think of a mortgage as a home loan, it’s actually just a part of your home loan.
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Outstanding Loan Balance . An outstanding loan balance is usually not a good thing and typically refers to a past-due amount. If you are late on your loan payments, you will receive a notice that could refer to this past-due amount. It can include some stiff penalty fees, depending on your lender's loan terms.

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Loans are made by CommonBond Lending, LLC (NMLS # 1175900). CommonBond is not affiliated with the school you attended or are attending. None of the information contained in CommonBond's website constitutes a recommendation, solicitation or offer by CommonBond or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

Life happens, and sometimes you may encounter an unexpected expense that you can’t afford to pay for from your bank account.