What is the definition of Recast trigger? | Dictionary.net

RECAST TRIGGER

\ɹɪkˈast tɹˈɪɡə], \ɹɪkˈast tɹˈɪɡə], \ɹ_ɪ_k_ˈa_s_t t_ɹ_ˈɪ_ɡ_ə]\

Definitions of RECAST TRIGGER

1910 - Black's Law Dictionary (2nd edition)

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An event that triggers a recasting of the payment plan for an ARM mortgage. For instance, if the borrower makes a minimum payment for 5 years, the payment schedule can be recast to pay off the full mortgage in 30 years.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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