Now there’s a fancy word.All it means it “payment break”.Let’s say you get a 6-month moratorium at the beginning of your 30-year mortgage. It means you won’t have to pay a cent for 6 months.Sounds dreamy – think of all the stuff you could buy from IKEA in those 6 months.Of course, over the remaining 29.5 years of the mortgage, the insurer will hike your repayments to make sure you pay it off in full.So maybe not as dreamy as it first sounds.