Meaning payment shock
What does payment shock mean? Here you find 3 meanings of the word payment shock. You can also add a definition of payment shock yourself
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payment shockDefinition Unexpectedly great jump in mortgage installment amount, such as an increase of 30 percent to 100 percent or more. All discount rate and adjustable rate mortgages have this "built in ti [..]
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payment shockA very large increase in the payment on an ARM that may surprise the borrower. Also used to refer to a large difference between the rent being paid by a first-time home buyer, and the monthly hous [..]
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payment shockPayment shock refers to the effect that a sudden increase in a loan's minimum payment can have on a borrower. Many mortgage loan products are structured to have potentially large changes in the m [..]
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