What Is a Skip-Payment Mortgage? A skip-payment mortgage is a home loan product that allows a borrower to skip one or more payments without any penalty. The interest accrued during the skipped periods will instead be added to the principal, and monthly payments will then be recalculated once they resume. Skip-payment mortgages are most common
What Is a Skip Account? A skip account, sometimes called a “skip,” is a borrower who defaults on a loan, which can include bail bonds, and “skips town” to avoid repayment without providing a correct forwarding address. Skip tracers are collection agents hired by lenders and bail bondsmen to find skip accounts and collect the
What Is Slander? The term slander refers to false statements made by one party against another. Slander is communicated verbally with the intent to defame the subject of the statements. Put simply, slander is a legal term used to describe defamation or the act of harming a person or business’s reputation by telling one or
What Is the Student Loan Interest Deduction? The student loan interest deduction is a federal income tax deduction that allows borrowers to subtract up to $2,500 of the interest paid on qualified student loans from their taxable income. It is one of several tax breaks available to students and their parents to help pay for higher
What Is a Slow Market? A slow market is a market with low trading volumes and/or low volatility, or a market in which trade orders are not being filled as fast as possible. It may also be used to describe a market with few initial public offerings (IPO) or secondary offerings in the stock market
What Is the Sri Lankan Rupee (LKR/SLR)? The Sri Lankan Rupee is the official currency of the Democratic Socialist Republic of Sri Lanka, which was known as Ceylon prior to 1972. SLR is the commonly used currency abbreviation for the Sri Lankan rupee, although the international currency code for the currency is LKR. Key Takeaways
What Is a Slush Fund? A slush fund is a sum of money that is set aside as a reserve. In accounting, a slush fund is a general ledger account of commingled funds that does not have a designated purpose. In more sinister cases, a slush fund may be used as a “black fund,” which is unaccounted
What Does Small Minus Big Mean? Small minus big (SMB) is one of the three factors in the Fama/French stock pricing model. Along with other factors, SMB is used to explain portfolio returns. This factor is also referred to as the “small firm effect,” or the “size effect,” where size is based on a company’s
What Are Small and Mid-size Enterprises (SMEs)? Small and mid-size enterprises (SMEs) are businesses that maintain revenues, assets or a number of employees below a certain threshold. Each country has its own definition of what constitutes a small and medium-sized enterprise. Certain size criteria must be met and occasionally the industry in which the company
What Is a Small Business Development Center (SBDC)? Small Business Development Centers (SBDCs) provide free marketing, financing, and business-related assistance to local entrepreneurs. They are found in all states and Washington, D.C., Puerto Rico, and the U.S. territories. SBDCs exist as a partnership between the U.S. Small Business Administration (SBA) and usually a local college
