loan extension
Debt deadline postponement
A loan extension is an agreement between borrower and lender to push back the repayment deadline, giving the borrower more time to pay.
The term may also refer to additional borrowing added to an existing loan: We took out a loan extension to finish the renovations.
Extensions typically involve renegotiated terms—adjusted interest rates, fees, or payment schedules.
- refinanceObtain new loan terms
- defermentAuthorized delay of obligation
- forbearancePatient self-control, delayed enforcement
- rolloverVehicle flipping accident
- grace periodAllowed delay before consequences
due date · deadline · maturity · repayment · installment · late fee · mortgage · principal · interest · lender · borrower · credit score · default · overdue · hardship letter · financial hardship · payment plan · restructure
- extensionsadd-on, appendix, appendage, annex, supplement
- library circulationcirculation desk, checkout, checkout desk, returns, due date
- delaysdelays, delay, delayed, postponement, postpone
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