What is amortization? Kiritsis Law Group 212 922 0005

May 13, 2021

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

It refers to a mortgage payment process, where there is a periodic pay down of a loan principal. Generally, in real estate transactions involving lending, the distribution of loan repayments into several installments of cash flows, is often determined by an amortization table. If a loan is fully amortized, then the last payment would pay off the remaining loan principle and interest. Unlike accounting and tax rules where amortization is associated with intangible assets in the real estate industry, and most of property law, the term of amortization, generally refers to loans involving real estate. Amortization is relatively easier to calculate in the age of the internet; however, emphasis should be placed on the word “relatively”, because you need to know which numbers to plug at which box, and there is some truth to the proverb of “don’t trust everything you read on the internet”. On a lighter note: the word “amortization” is not derived from the root “amor’ which often refers to love; rather it is derived from old French, and it means “to kill off” (killing off the mortgage payments that is).

 

Law Offices of Kiritsis & Associates

Phone # 212 922 0005

Manhattan Office (Main Office):

633 Third Avenue

New York, NY 10017

Suite 1306

Brooklyn Office (By Appointment Only):

1023 74th Street

Brooklyn, NY 11228

1st Floor

New Jersey Office:

7309 Ventnor Avenue

Ventnor, NJ 08406

2nd Floor

 

ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.

We hope you would find this website useful with regards to finding potentially relevant information for your legal issue.   The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey.  We strive to provide professional legal services for individuals and various business entities.  Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.

We offer flat fee prices for many of the practice areas provided listed throughout our website.  For more information on the topic you may be interested, or simply to find out how our law Firm Group can help, you may click at any of our site's links.

 

We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.

Phone# 212-922-0005

 

Intellectual Property Disclaimer(s):

Copyright 2021

The materials available through this website and any other websites owned by John Kiritsis (individually and collectively, the "Website") are the property of John Kiritsis and his entities, and are protected by copyright, trademark and other intellectual property laws.  You may not use, reproduce, download, store, post, broadcast, transmit, modify, sell or make available to the public content from the Website without the prior written approval of John Kiritsis.  Be aware that any unauthorized use of John Kiritsis trademarks and copyrighted content for commercial purposes in violation of John Kiritsis's intellectual property rights will be vigorously enforced.  All other trademarks, service marks and trade names referenced in this site are the property of John Kiritsis.