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Definition of Caps, Payment from Mortgage Glossary

Caps (Payment)

Consumer safeguards which limit the amount monthly payments on an adjustable rate mortgage may change per year and/or the life of the loan.

See also: ARM Mortgage

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    Caps, Payment
    Caps (Payment) Consumer safeguards which limit the amount monthly payments on an adjustable rate mortgage may change per year and/or the life of the loan. See also: ARM Mortgage ... more...

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