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Payment Cap |
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Payment CapA maximum amount for a payment under an Adjustable Mortgage Loan, regardless of the increase in the interest rate. If the payment is less than the interest alone, negative amortization is created.Payment Cap Similar MatchesBalance of paymentsBalance of paymentsA country's financial position, with other countries of the world, which is made up of its current account and capital account (or capital movement) over a given period of time.The current account covers the balance of imports and exports.The capital account covers the difference between the capital which the country has invested in other countries, and the capital invested by other countries in it. Mortgage payment protection insurance (MPPI)Mortgage payment protection insurance (MPPI)An MPPI policy pays your mortgage for you if you become unable to work for an extended period of time, as a result of redundancy, accident, sickness or disability. It should provide enough income to cover all your monthly mortgage expenses. If you have a repayment mortgage, this should be your capital and interest repayment and if you have an interest-only mortgage, the MPPI should cover your interest payment as well as your normal monthly contribution to the investment vehicle that will repay your loan. Balance of paymentsBalance of paymentsA statistical compilation formulated by a sovereign nation of all economic transactions between residents of that nation and residents of all other nations during a stipulated period of time, usually a calendar year. Prepayment penaltyPrepayment penaltyA fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. OverpaymentOverpaymentThe difference between your regular monthly repayment and a higher amount that you choose to pay. Further SuggestionsPayment holidayRepayment term Prepayment speed Balance of payments deficit Early repayment period payment card Additional principal payment Payment default graduated payment mortgage clearing house interbank payment system Repayment plan Transfer payments Deficiency Payment Graduated payment Deferred payment annuity Balance of payments argument for protection FHA prepayment experience Prepayment penalty Break even payment rate Discount payment Receive versus payment Payment shock PIK (Payment in kind) securities prepayment fee Balloon Payment |
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