👉 In finance, "prereademption" refers to a situation where a borrower decides not to pay back their loan but still wants to keep it. This is often done by extending the maturity date of the loan or by changing the interest rate on the loan. Prereademption can occur in various scenarios such as when a borrower needs more time to repay the loan, if they are experiencing financial difficulties, or if the original terms of the loan were not favorable enough for them. In these cases
