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convertible ARM
con·vert·i·ble ARM (plural con·vert·i·ble ARMs)


noun 
Definition:
 
mortgage whose rate may be fixed: an adjustable-rate mortgage that can be converted to a fixed-rate mortgage
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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