Principal Balance

Principal and Interest Payment (P&I)
A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to amortization of the principal balance; commonly used with amortizing loans.
Short Sale
A short sale can refer to both an arrangement within financial markets involving the sale of securities, as well as an arrangement between a mortgagor and mortgagee involving a real estate transaction.

Accounting Terms Lexicon

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