renegotiable-rate mortgage

renegotiable-rate mortgage
/ree'ni goh"shee euh beuhl rayt', -sheuh beuhl-/
a type of home mortgage for which monthly payments stay constant for a term, usually of three to five years, and the interest rate is renegotiated at the end of every such term until the loan is paid off. Abbr.: RRM Also called rollover mortgage.

Useful english dictionary. 2012.

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  • renegotiable-rate mortgage — /ree ni goh shee euh beuhl rayt , sheuh beuhl / a type of home mortgage for which monthly payments stay constant for a term, usually of three to five years, and the interest rate is renegotiated at the end of every such term until the loan is… …   Universalium

  • Canadian Rollover Mortgage — A home mortgage with an adjustable rate feature. The Canadian Rollover mortgage differs from a 30 year fixed rate mortgage, in that the loan s interest rate is adjusted every five years, with no cap on the interest rate adjustment. The Canadian… …   Investment dictionary

  • Rollover Mortgage — A mortgage in which the unpaid balance (outstanding principal) must be refinanced every few years (often three to five) at current interest rates, subject to certain limits. For example, the mortgage interest rate may not increase by more than… …   Investment dictionary

  • rollover mortgage. — See renegotiable rate mortgage. * * * …   Universalium

  • rollover mortgage. — See renegotiable rate mortgage …   Useful english dictionary

  • RRM — See renegotiable rate mortgage. * * * …   Universalium

  • RRM — See renegotiable rate mortgage …   Useful english dictionary

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