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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Payment Adjustment Interval

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When a mortgage is subject to regular rate changes as is the case with an ARM, there may be a different adjustment interval. The payment adjustment interval refers to the frequency of the adjustments to the mortgage payments. Note that if the payment adjustment interval is larger than the ARM adjustment period, it is possible that the mortgage could go into negative amortization.

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