moratoria

/ˌmɔːrəˈtɔːriəm/ /ˌmɒrəˈtɔːriəm/

Meanings

noun

An authorization to a debtor, permitting temporary suspension of payments.

Examples :

"Due to the financial crisis, the bank announced moratoria on mortgage payments, allowing homeowners to temporarily pause their repayments. "

noun

A suspension of an ongoing activity.

Examples :

"Canada may put a moratorium on cloning for research."

politics government economy business law action situation event state finance

Related Words

financial adjective

/faɪˈnænʃəl/

Related to finances.

"The financial situation at home has improved since my uncle started his new job. "

homeowners noun

/ˈhoʊmˌoʊnərz/ /ˈhoʊmˌoʊnərs/

Someone who owns a house

"The homeowners association held a meeting to discuss neighborhood improvements. "

moratorium noun

/ˌmɒ.ɹəˈtɔː.ɹɪəm/ /ˌmɔ.ɹəˈtɔ.ɹi.əm/

An authorization to a debtor, permitting temporary suspension of payments.

"Due to the economic crisis, the bank granted a six-month moratorium on mortgage payments, allowing homeowners to temporarily suspend their monthly installments. "

temporary noun

/ˈtɛmpəɹi/ /ˈtɛmpəˌɹɛɹi/

One serving for a limited time; short-term employee.

"The temporary at the bakery was only there for the summer. "

payments noun

/ˈpeɪmənts/

The act of paying.

"My monthly car payments are due on the 15th of each month. "

mortgage noun

/ˈmɔː.ɡɪdʒ/ /ˈmɔɹ.ɡɪdʒ/

A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.

"To buy a house, John took out a mortgage. "

temporarily adverb

/ˈtɛmp(ə)ɹəɹəli/ /ˌtɛmpəˈɹɛɹəli/

For a limited period of time; not permanently.

"The store is temporarily closed for renovations. "

repayments noun

/riˈpeɪmənts/

The act of repaying.

"Her monthly repayments on the student loan are $200. "

suspension noun

/səˈspɛnʃən/

The act of suspending, or the state of being suspended.

"suspension from a hook"

announced verb

/əˈnaʊnst/ /əˈnaʊnstɪd/

To give public notice, especially for the first time; to make known

"The teacher announced that there would be no school tomorrow due to the snow. "

permitting verb

/pɚˈmɪtɪŋ/ /pəˈmɪtɪŋ/

To allow (something) to happen, to give permission for.

"My mom is permitting me to go to the movies with my friends tonight. "

authorization noun

/ˌɔθərɪˈzeɪʃən/ /ˌɑθərəˈzeɪʃən/

Permission.

"The teacher needed authorization from the principal before assigning extra credit. "