convertible mortgage

Convertable loan is secured by real property and written at a rate below current market interest rates

In exchange, lender has right to convert the loan to an equity interest at a specified future time.

i have not previously seen the term: "equity interest" used in this framework.

convertible loans are adjustable rate loans that can be converted into fixed rates, based on specific terms laid out in the loan documents.

this is another bogus question courtesy of our phantom posters.

Very good and detailed information about the tyep of mortgages

http://www.mortgagefit.com/predeal-faq/

Convertible mortgage allows you to convert your mortgage to a new one of longer term while it is still in effect.

I beg your pardon, lee?