Graduated Payment Mortgage is a mortgage which frequently has relatively low payments in its early life. These relatively low payments are often insufficient to amortize the principal. Therefore with the passage of time the payment schedule is stepped-up to paydown the early negative amortization, service the interest requirement, and paydown the total principal balance.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). graduated payment mortgage. Retrieved September 29, 2026, from http://smartdefine.org/graduated_payment_mortgage/definitions/1155079 |
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