payment shortfall

153

1. (1) the total sum of periodic instalments of capital or interest (or both) that have become due under the terms of a regulated mortgage contract but which, in breach of those terms, remains unpaid; or153
1. (2) the total sum of periodic payments towards the purchase price or of rent (or both) that have become due under the terms of a home purchase plan but which, in breach of those terms, remains unpaid. 153
1. (3) the total sum of periodic instalments towards the purchase price of a funeral plan that have become due under the terms of the funeral plan contract but which, in breach of those terms, remains unpaid.202