SKIP-PAYMENT MORTGAGE
Skip-payment mortgage is a mortgage program that has a special feature. It enables borrowers of the mortgage to skip or in other words, delay payment, on a mortgage. The circumstances of skip-payment mortgage depends on the lender. Most lenders don’t impose additional charges for the skip. The only catch is that the interest accrued in the skipped payment is added to the principal balance. The remaining amortization schedule is the recalculated. This process is called ‘deferred interest’ or ‘negative amortization’.
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Pricing model used in valuing a business based on what an investor expects from any capital invested in the firm. It is computed by adding the amou ...
Remainder Man
An individual who receives the remaining principal in a trust account after all required payments have been made, such as those to the beneficiary ...
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The total average of the collected funds in a bank account in a month. The balance is calculated by adding the collected balance and dividing it by ...
Bankable Funds
Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typica ...
Prudent-Person Rule
A legal maxim that restricts the discretion in a client's account to investments that a prudent person seeking reasonable income and preservati ...
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