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Arm

• Adjustable rate mortgages. There are loans whose interest is adjusted periodically depending of market conditions. Contrast with fixed rate mortgages.

 
 Embedded terms in definition
 Adjustable rate mortgage
Interest
Market

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Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

Forgiveness does not change the past, but it does enlarge the future. - Paul Boese

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