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11-07-2007, 07:36 PM
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#1 |
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trying hard to be a better person
Join Date: Jan 2006
Location: Brisbane, Australia
Posts: 16,493
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What is an ARM?
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Kind words are the music of the world. F. W. Faber |
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11-07-2007, 07:54 PM
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#2 | |
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“Hypocrisy: prejudice with a halo”
Join Date: Mar 2007
Location: Savannah, Georgia
Posts: 21,393
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Quote:
A loan in which the interest rate is periodically adjusted, moving higher or lower in the same ratio as a preselected index, such as Treasury bill rates. ARM loans may include caps on interest rate increases in a given time period, and over the life of the loan, and may include limits on the frequency of interest rate adjustments. ARM loans generally have initial below market interest rates in return for the borrower sharing the risk that interest rates may rise during the life of the loan.
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Anyone but the this most fuked up President in History in 2012! |
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