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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


GOST 7.67 Latin three-letter geocode for Armenia. The code is used for transactions to and from Armenian bank accounts and for international shipping to Armenia. As with all GOST 7.67 codes, it is used primarily in Cyrillic alphabets.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Adjustable rate mortgage (ARM).

An adjustable rate mortgage is a long-term loan you use to finance a real estate purchase, typically a home.

Unlike a fixed-rate mortgage, where the interest rate remains the same for the term of the loan, the interest rate on an ARM is adjusted, or changed, during its term.

The initial rate on an ARM is usually lower than the rate on a fixed-rate mortgage for the same term, which means it may be easier to qualify for an ARM. You take the risk, however, that interest rates may rise, increasing the cost of your mortgage. Of course, it's also possible that the rates may drop, decreasing your payments.

The rate adjustments, which are based on changes in one of the publicly reported indexes that reflect market rates, occur at preset times, usually once a year but sometimes less often. Typically, rate changes on ARMs are capped both annually and over the term of the loan, which helps protect you in the case of a rapid or sustained increase in market rates.

However, certain ARMs allow negative amortization, which means additional interest could accumulate on the outstanding balance if market rates rise higher than the cap. That interest would be due when the loan matured or if you want to prepay.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.


See adjustable-rate mortgage.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.


See Adjustable Rate Mortgage.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
References in periodicals archive ?
But rather than uncovering the evidence needed, it's Richard and Gemma who are soon feeling the long arm of the law - could it be that they are in fact the nightmare neighbours?
The long arm of the law will finally catch up with any offender.
Summary: The long arm of the law is still catching up with the bachelors in Dubai who live in residential areas.
But the long arm of the law caught up with the thugs who carried out the attack when intrepid police dog Bach tracked them down from the back of a shop to a railway embankment where pounds 750,000 worth of jewellery, weapons and clothes were recovered.
They are above the long arm of the law. Who do they think they are?
FOR the second time in less than a month, an Occupy Cardiff protest has been ended by the long arm of the law.
THE long arm of the law never needed to stretch far to catch an armed shop raider.
Trouble had no chance to arise on Tyneside, but if it had, the guilty parties would have quickly felt the long arm of the law.
A TOP vice cop says it will take more than private flats and foreign websites to protect the pimps from the long arm of the law.
However, the detectives do get a lead on Matthias, who remains one step ahead of the long arm of the law.
The long arm of the law has reached in to cyberspace to set up a profile for West Midlands Police on social networking site Facebook.
The long arm of the law asked owner Louise Kavanagh to remove the offending item - and Insider hears Louisewas happy to oblige.