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what is an arm loan
- How do different types of lenders (e.g., banks, credit unions, mortgage companies) approach ARM loans?
- What happens to the monthly payment when the interest rate adjusts on an ARM?
- How do disclosures about existing ARM loans need to be handled during the sale process?
- How do jumbo ARMs (loans above conforming loan limits) differ from standard ARMs?
- What factors should borrowers consider when refinancing their existing mortgage into an ARM?
- How does the foreclosure process typically work?
- What happens if a borrower defaults on an ARM loan?
- What information should sellers provide to potential buyers about an existing ARM loan?
- What types of modifications might be available for an ARM loan (e.g., interest rate reduction, term extension)?
- How does the Federal Reserve's monetary policy stance (hawkish vs. dovish) impact ARM rates?
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