Recast payment
Definition
Raising the mortgage payment to the fully amortizing payment. Periodic recasts are sometimes used on ARMs in lieu of or in addition to negative amortization caps.
Related Terms Other terms related to 'Recast payment' starting with the letter 'R' Rate point options, Retail lender, Reverse mortgage, Refinance, Rate point breakeven Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 