Yes, that's what it means. A Chapter 13 secured creditor is entitled to the discounted value of the debt as of the date of filing of the bankruptcy petition
, paid in full over the course of the plan. So, if you owed $100,000 payable at 6% over a remaining 25 years, with $800 per month payments, and your plan is 60 months, then the discounted present value of the loan is $156,201.84. Divide that by 60 gives $2,603.36 per month, at 0% interest.
There are other ways to cure a defaulted mortgage in Chapter 13, but since you are stating 0% interest, I'm providing the most likely rationale for your plan provision.
Hope this helps.
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