Definitions for "Payment Holiday"
This is offered by some mortgages that allow you to miss monthly payments on your mortgage.
Sometimes called payment break, you can stop making payments altogether for a limited period agreed with the lender. Interest is usually charged during this period.
Borrowers may be permitted to take a break in their mortgage repayments for a specified period.
Keywords:  suspended, repaid, plus, extra, months
Some lenders allow payments to be suspended for up to 3 months. These payments, plus extra interest on these payments are added to the total amount to be repaid.