Event that triggers a recasting of the repayment schedule for an adjustable rate mortgage (ARM). For example, if a borrower makes minimal payments for the first five years of a thirty-year ARM, the repayment schedule may be recast so that the mortgage will be completely paid off in thirty years. A recast trigger may also occur if the remaining principal on a mortgage becomes greater than the original amount borrowed. This may occur if a borrower makes minimal payments during a period of rising interest rates.