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Payment shock |
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Payment shockPayment shocks are when the discount period ends and the monthly repayments jump by a large amount to match the Standard Variable Rate. You must be sure that you can budget for this in your monthly expenses.Payment shock Similar MatchesPeriodic paymentsPeriodic paymentsA series of payments from an annuity, qualified retirement plan, or 403(b)(7) account made over a certain term of years. A payment from an IRA, even if over a period of years, is not considered a periodic payment for tax purposes. Facilitating paymentFacilitating paymentAs permitted under the U.S. Foreign Currupt Practices Act, a facilitating payment is a payment for "routine governmental action," such as obtaining permits, processing papers, providing normal government services, etc. It is, in fact, a bribe, but a small one that does not induce any illegal or exceptional behavior. PrepaymentsPrepaymentsPayments made in excess of scheduled mortgage principal repayments. Balance of paymentsBalance of payments1. A list, or accounting, of all of a country's international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; payments out of the country (payments) are entered as negative numbers called debits. 2. A single number summarizing all of a country's international transactions: the balance of payments surplus. Prepayment penaltyPrepayment penaltyA fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. Further SuggestionsLag response of prepaymentsperiodic payment plan Payments netting call payment Transfer payments European Payments Union clearing house automated payment system Stop payment Mortgage payment protection insurance (MPPI) Balance of payments adjustment mechanism prepayment fee Deficiency Payment Zero prepayment assumption FHA prepayment experience Date of payment Early repayment period Interest payments Graduated payment Deferred payment annuity Payment protection insurance repayment mortgage Break even payment rate Payments pattern Balance of payments Repayment vehicle |
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