MORTGAGE RECAST
The act of recalculating the remaining scheduled principal and interest payments according to a new amortization schedule. Some mortgages may allow recomputation in order to suit lenders’ financial situation. The interest rate can be lowered and/or the remaining term be prolonged. Most of the time, it is associated with a negative amortization mortgage that must recast at some point so the mortgage will be paid off at the end of its scheduled term.
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Mature Economy
An economic situation where the birth rate is stable or lower than mortality rate, as well as the pace of economic growth has slowed down. It is ch ...
Blackberry Addiction
Colloquial term for overreliance or overuse of Blackberry. The smartphone is manufactured by Research in Motion. It is a prevailing condition for s ...
Completed Contract Method - CCM
Accounting method allowing a taxpayer or business to defer reporting of income and expenses until the contract has been completed. Frequently, this ...
Choice Market
Market in which the spread between the bid and ask prices for a particular financial instrument is zero. Meaning the instrument can be purchased fo ...
Rational Pricing
A theory that states the prices that reflect a security’s fundamental value and the absence of arbitrage opportunities.
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