adjustment date
The date the interest rate changes on an adjustable-rate mortgage (ARM). On most ARMs, the rate starts out fixed at a discount for an initial period, such as five years. Then it's reset (typically upward) on the adjustment date to reflect current market rates. The rate continues to change on a regularly scheduled basis at each adjustment period.
Category: Real Estate & Rental Property

Nolo’s Plain-English Law Dictionary. . 2009.

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