implied call


Right that is available to borrowers on a mortgage allowing them to call or to pay back the loan at any given time. This right is typically automatically included, unless otherwise stated. Therefore, it is often simply implied. This call also allows the borrower to refinance the mortgage whenever interest rates fall.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
implied authority implied cap rate