What is a time order?

What is a time order?

A time order is limited in its use for certain customers as, if in certain types of mortgages, the judge can award a different interest rate payment on the debt and/or lengthening the loan length so that the payments can be reduced accordingly. For example, if you have a five-year mortgage on repayment that you can't afford, he could say, we're going to rewrite the mortgage over a fifteen year period, which would reduce the mortgage payments accordingly and make it more affordable.