ADJUSTMENT INTERVAL
The time period between changes of interest rates to an adjustable rate mortgage (ARM). There are two adjustment intervals that are often found on ARMs. The first interval is usually longer (typically 10,7,5, or 3 years) during which exists a fixed payment and interest rate. Subsequent to the rate interval is the periodic adjustment to the interest rate ( generally every 6 months or 1 year) all throughout the rest of the loan.
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Lawful Money
Any currency, in coin or paper form, that is issued by the United States Treasury, not the Federal Reserve System. It also includes gold and silver ...
Red Clause Letter Of Credit
It refers to a specific type of letter of credit where a buyer extends an unsecured loan to a seller. This permits documentary credit beneficiaries ...
Trust Certificate
Bond or debt investment backed by other assets and serve like a collateral. Normally in a public company, the assets may be seized or sold for the ...
Cowboy Marketing
Slang term for a situation in which a firm is unaware a marketer sends massive spam emails to everyone promote the stock, instead of producing legi ...
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