Payment Cap - Law Dictionary Search Results
payment cap
payment cap a limit on how much an ARM's payment may increase,
cap
on an adjustable rate mortgage, on how much a monthly payment or interest rate can increase or decrease, either at each … cap a limit, such as one placed on an adjustable rate
rate cap
an ARM on how much the interest rate or mortgage payment may change. Rate caps limit how much the interest rates … rate cap a limit on an ARM on how much the interest
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negative amortization
loan. Negative amortization can occur when an ARM has a payment cap that results in monthly payments not high enough to cover
arm
to changes in interest rates; when rates change, ARM monthly payments increase or decrease at intervals determined by the lender; the … in monthly payment amount, however, is usually subject to a cap. Source: U.S. Department of Housing and Urban Development
escalator clause
that provides for an increase in the amount of the payments made under the contract to reflect an increase in costs … an increase in costs or the raising of a government-imposed cap on costs 2 : a clause in an employment contract
Fee-farm rent
the lands as his demesnes. Cowel's Law Dict., citing Britton, cap. 66, num. 4. Formerly it was said that these rents
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