Adjustable Rate Mortgage (ARM): A loan whose interest rate is periodically adjusted to more closely coincide with current interest rates. The adjustment amounts and times are agreed upon when the loan is created.
Debt Consolidation using a Home Equity Line of Credit Using a home equity line of credit (HELOC) to pay for your debt is a well known approach to solving one's debt problems. Find out what are the exact terms, advantages and disadvantages of a HELOC loan.