Updated over 16 years ago on . Most recent reply
Simple/General Loan Question
Perhaps a no brainer of a question, let me explain...
Lets say I have a loan. Halfway through paying off the loan I somehow acquire a lump of cash that can pay the rest of the loan off.
Am I able to pay just the principle of the loan and not pay interest since I am paying it all off at once? Or do you have to stay committed to paying the interest no matter what? I imagine depending on the loan it will specify this in the terms.
Thanky