What is the process called that allows a borrower to pay off a portion of their mortgage while retaining the remainder?

The correct answer, partial discharge, refers to the process that allows a borrower to pay off a portion of their mortgage while retaining the remainder. This process is significant because it enables borrowers to reduce their overall debt without having to pay off the entire mortgage. By partially discharging the mortgage, they can free up resources or equity tied to that part of the mortgage, allowing them to potentially reallocate those funds for other financial needs or investments.

Understanding partial discharge can be particularly beneficial for borrowers who want to make a strategic financial decision, such as selling a portion of their property or refinancing. This approach offers flexibility, allowing borrowers to manage their mortgage responsibilities in a way that aligns with their financial goals.

The other options represent different concepts in mortgage and financial transactions. Equity extraction involves leveraging the equity in a property to obtain additional funds, but it is not the same as paying off part of a mortgage. Debt satisfaction refers to fully paying off debt, which would not allow for retaining any part of the mortgage. Remittance typically relates to sending payment or funds to settle an obligation but does not specifically address the partial payment aspect of a mortgage.