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Term of the Day
recasting
recast payment
receipt
Definition
The process of redesigning existing
loans
, especially under the threat of
default
. The term of the
loan
may be extended or the
interest rate
adjusted to lessen the
financial
pressure on the
borrower
.
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Nearby Terms
recapture
recapture clause
recapture rate
recast earnings
recast payment
recasting
receipt
receipt book
receipts and pay...
receivable days
receivables
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