Payment Cap - Law Dictionary Search Results
payment cap
Matched in: Term payment cap
rate cap
Matched in: Term rate cap
cap
Matched in: Term cap
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arm
at intervals determined by the lender; the change in monthly payment amount, however, is usually subject to a cap. Source: U.S. Department of Housing and Urban Development … arm Adjustable Rate Mortgage; a mortgage loan subject to changes in interest rates; when rates change, ARM monthly payments increase or decrease at intervals determined by the lender; the change in monthly payment amount, however, is usually
negative amortization
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
escalator clause
clause 1 : a clause in a contract that provides for an increase in the amount of the payments made under the contract to reflect an increase in costs or the raising of a government-imposed cap on
Fee-farm rent
his heirs may have an action to recover the lands as his demesnes. Cowel's Law Dict., citing Britton, cap. 66, num. 4. Formerly it was said that these rents could not be distrained for, but the (English) … for the rents if the rents had been paid for three years. for the remedies in case of non-payment of these rents if created after 1881, see s. 121, (English) Law of Property Act, 1925, and for
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