-N-
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Negative
Amortization
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also known as "Neg Am," a gradual increase in a mortgage debt that occurs when the
monthly payment does not cover the entire principal
and interest due. Can create a condition known as being
"upside down" in a mortgage.
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Note
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a document that shows evidence of a debt, including the
amount and terms of repayment.
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Mortgage Glossary © Copyright 2004, 2008
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