exploding ARM
n.— «The man Bob Woodward called “Maestro” actually advised Americans to shun fixed-rate loans for adjustable-rate mortgages. Dubbed “exploding ARMs” to describe the impact of upwardly adjusting interest rates on monthly payments, the loans are a staple of subprime mortgages.» —“Who’s to blame for foreclosure crisis?” by Pat Beall Palm Beach Post (Florida) Oct. 21, 2007. (source: Double-Tongued Dictionary)
Further reading
Sending someone a care package shows you care, of course. But the first care packages were boxes of food and personal items for survivors of World War II. They were from the Committee for American Remittances to Europe, the acronym for which is CARE...
Sometimes it’s a challenge to give a book a chance: How many pages should you read before deciding it’s not worth your time? There’s a new formula to help with that decision — and it’s all based on your age. • Have you ever...
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