What is 'Implied Call'
A right given to mortgage borrowers that allows them to call or pay-back a loan at any time. The call is implied, as it is included in most mortgages unless specified otherwise.
BREAKING DOWN 'Implied Call'
The implied call allows a borrower to refinance a mortgage when interest rates drop. In this case, the borrower will take out a new mortgage at the lower rate, using its proceeds to call the original debt.