We Close Notes
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On this Note Term of the Day, Scott Carson explains what Legal Balance means in the note industry. He also shares how to calculate this and what it means for note investors.
Legal Balance means the amount of indebtedness legally owed by an Obligor with respect to a Loan, including principal and accrued and unpaid interest, late fees, attorneys' fees and expenses, taxes, insurance premiums, and similar charges, if any.
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