Negative Amortization - Law Dictionary Search Results
Home Dictionary Name: negative amortizationnegative amortization
negative amortization amortization means that monthly payments are large enough to pay the interest and reduce the principal on your mortgage. Negative amortization occurs when the monthly payments do not cover all of the interest cost. The interest cost that isn't covered is added to the unpaid principal balance. This means that even after making many payments, you could owe more than you did at the beginning of the loan. Negative amortization can occur when an ARM has a payment cap that results in monthly payments not high enough to cover the interest due. Source: U.S. Department of Housing and Urban Development ...
cap
cap a limit, such as one placed on an adjustable rate mortgage, on how much a monthly payment or interest rate can increase or decrease, either at each adjustment period or during the life of the mortgage. Payment caps do not limit the amount of interest the lender is earning, so they may cause negative amortization. Source: U.S. Department of Housing and Urban Development ...
amortization
amortization The gradual payment of a debt through a schedule of payments or the writing off of an intangible asset against expenses over the period of its useful life ...
amortize
amortize -tized -tiz·ing : to reduce (an amount) gradually: as a : to pay off (as a loan) gradually usually by periodic payments of principal and interest or payments to a sinking fund b : to gradually reduce the cost of (as an asset) esp. for tax purposes by making periodic charges to income over a time span [ the machinery over five years] see also depreciation compare capitalize, deduct amor·ti·za·ble adj amor·ti·za·tion [a-mər-tə-zā-shən, ə-mȯr-] n ...
Amortization, or Amortizement
Amortization, or Amortizement. See ADMORTIZA-TION....
Amortize
Amortize, to alienate lands in mortmain....
Negative
Negative. In general a negative cannot be proved or testified by witnesses, 2 Inst. 662. But this rule does not apply where one party charges another with a culpable omission or breach of duty; in such a case the person who makes the charge is bound to prove it, though it may involve a negative, for it is one of the first principles of justice not to presume that a person has acted illegally till the contrary is proved. Where the presumption of law is in favour of a defendant, then the plaintiff must disprove the defence, though he may have to prove a negative.In summary proceedings any exception, etc., may be proved by the defendant, but need not be negatived in the information, Summary Jurisdiction Act, 1879, s. 39 (2); 1 Phil. Evid. c. vii., s. 4. [Or. 14, r. 6, CPC]....
negative averment
negative averment : a negative statement or allegation (as in a pleading) that constitutes a statement of fact and that must be proved by the party making it [a negative averment alleging that the plaintiff did not have the capacity to sue] ...
Negative
Denying implying containing or asserting denial negation or refusal returning the answer no to an inquiry or request refusing assent as a negative answer a negative opinion opposed to affirmative...
Argumentum a majori ad minus negative non- valet; valet e converso
Argumentum a majori ad minus negative non- valet; valet e converso [Lat.], An argument from the greater to the less is of no force negatively; affirmatively it is....
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