Adjusting the mortgage payment on an ARM or on a variable rate mortgage to make certain that the mortgage will be paid in full by the time of its maturity.
Related information about recast payment:
- What is recast payment? definition and meaning
Definition of recast payment: Adjusting the mortgage payment on an ARM or on a variable rate mortgage to make certain that the mortgage will be paid in full by ...
- What is recast earnings? definition and meaning
Nearby Terms. recapitalise · recapitalization · recapture · recapture clause · recapture rate · recast payment · recasting · receipt · receipt book · receipts and pay.
- Option ARM Loan: Typical Features, Advantages, Pay Option ARMs
This new recast payment becomes the new minimum payment for the upcoming 12 months subject to a 7.5% (or whatever your payment cap is) increase the ...
- Five-Year Fixed-Rate OptPay Hybrid LIBOR ARM ~ Using Pay ...
Neg-Am Recast: Payment Required: Interest Only · Payment Options Period: 10 Years. Lifetime Cap: Refer to Rate Sheet. Negative Amortization Cap: 110% ...
- Appendix C: One- to Four-Family Residential Real Estate Lending ...
NegAm borrowers may face recast payment shock, where the loan payment adjusts upward to fully amortize the principle balance over the remaining life of the ...
- JPMorgan Chase and Bank of America, Quietly Reducing Principle ...
Jul 5, 2011 ... The fully-amortizing recast payment is nearly $50,000 annually! There is absolutely no chance you will be able to make that payment – default, ...
- Banks Reducing Principal? in [Market-Ticker]
The fully-amortizing recast payment is nearly $50,000 annually! There is absolutely no chance you will be able to make that payment - default, ...
- Option-ARM Update | bubbleinfo.com
Feb 15, 2011... was the most critical component – it allows the initial minimum payment to rise gradually each year so the recast payment shock is minimal.