Payment adjustment interval
Definition
The period between payment changes on an ARM, which may or may not be the same as the interest rate adjustment period. Loans on which the payment adjusts less frequently than the rate may generate negative amortization.
Related Terms Other terms related to 'Payment adjustment interval' starting with the letter 'P' Principal, Price gouging, Payment increase cap, Portfolio lender, Pick a Payment ARM Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 