What does Restructured Loan mean?

A Restructured loan is a loan that has been modified to better suit the needs of the borrower. This can include changes to the interest rate, the term of the loan, or the monthly payments. Restructuring a loan is often done to help a borrower who is having difficulty making their payments, and it can help them to avoid defaulting on the loan.

Related Terms

Insurable Title Undisclosed Heir Forbearance Master-Planned Community Subordinate Loan Special Deposit Account Estate Conservator Cape Cod Style Annual Percentage Rate (APR) Actual Age Buyer Broker Before-Tax Income Negative Amortization Braced Framing Limited Partnership Individual Retirement Account Agency Closing