What is the meaning of Skip-payment privilege?

Skip-payment privilege is a mortgage contract clause giving borrowers the right to skip payments if they are ahead of schedule.

Barry Goldsmith
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APABarry Goldsmith. (2010). skip-payment privilege. Retrieved September 27, 2026, from http://smartdefine.org/skip-payment_privilege/definitions/1163677
ChicagoBarry Goldsmith. 2010. "skip-payment privilege" http://smartdefine.org/skip-payment_privilege/definitions/1163677 (accessed September 27, 2026).
HarvardBarry Goldsmith 2010, skip-payment privilege, Smart Define, viewed 27 September, 2026, <http://smartdefine.org/skip-payment_privilege/definitions/1163677>.
MLABarry Goldsmith. "skip-payment privilege" 21 October 2010. Web. 27 September 2026. <http://smartdefine.org/skip-payment_privilege/definitions/1163677>