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What do you think of ARMs?this thread has 0 replies and has been viewed 124 times
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03-02-2008, 10:04 AM
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What do you think of ARMs?
That's Adjustable Rate Mortgages, that is....
Adjustable rate mortgages: An adjustable rate mortgage (often called an "ARM") offers a fixed initial interest rate and a fixed initial monthly payment. After the initial period is over, the rate and term of the mortgage can be modified at predetermined times under the agreement to reflect the current market mortgage rates. 
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