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Loan and Mortgage Terms Glossary

Maturity:

(1) the end of the period of time for which credit, an insurance contract, or a mortgage loan is written. (2) the date(s) on which some types of investments such as bonds may be redeemed at face value. (3) the date on which a note, time draft, bill of exchange, bond, certificate of deposit or other negotiable instrument becomes due and payable.


 
     
 
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