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Convertible ARM

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Sam Site Admin Joined: 21 May 2005 Posts: 205 Location: CALIFORNIA 93.10 Dollars($)	Posted: Thu Apr 08, 2004 11:08 pm    Post subject: Convertible ARM An ARM (Adjustable Rate Mortgage ) that can be converted to a fixed rate mortgage for the remaining term of the loan under specified conditions is known as convertible ARM. It offers the ability to take advantage of lower rates initially, and have possible savings. For example, Kris took a adjustable rate mortgage for 15 years, after say 10 years he converted his mortgage into fixed rate mortgage. This type of a adjustable rate mortgage is known as 'convertible ARM'.

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