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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 ?
She has a Bachelor of Science degree in Psychology, and is also known for armless surfing and
"We were armless during our procession, and they shot us after we ended our procession, the whole world knew our history, we have never armed ourselves.
And that type of hope is what we would also like to bring to all those victims who survived the typhoon, who've lost family, or have been injured," said the armless, yet fearless lady.
Armless pilot driving a race car by his single foot
"I'm that poor armless fellow's brother, and I'd like to apply," he said.
London, June 18 (ANI): An armless archer, who has already attracted international attention after qualifying for the National U.S.
"Israel is applying double standards by preaching values of democracy and freedom and at the same time gives orders to its forces to kill armless people who were protesting the continued occupation of their land in violation of international law and UN resolutions", FM Nasser Judeh said in a statement.
When the incident occurred at the University of Bahrain, and the girls were protected by the boys, the truth of "who protected the girls" lies in the fact that those hundreds of boys then did not perform that action in view of being a Sunni or a Shi'ite, but to protect their armless fellow sisters.
Tohme said "we look forward for a peaceful, democratic and armless March 14 festival, where crowds could express their stances and highlight the logic of state, justice and special tribunal."
From Demeter and Persephone of ancient Greek mythology to the Armless Maiden of South Africa, Pele of Hawaiian legend, and the lesbian wise women of Native American folklore, this book gathers stories from around the world representing the heroine's journey.
Dozens of Esperance supporters were seen of ripping up seats, firing banned flames and beating armless stewards during the 2-1 defeat in the Egyptian capital.
TRNC Parliament Speaker Bozer, when asked to comment on reaction of Turkish government against Israel's attack on ships carrying aid to Gaza, said, "we support stance of Turkish government because they were ships carrying aid and they were armless."