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Payment-option ARM is an ARM that allows the borrower to choose among several payments options each month. The options typically include (1) a traditional amortizing payments of principal and interest, (2) an interest only payment, or (3) a minimum ( or limited) payment that may be less than the amount of interest due that month. If the borrower chooses the minimum-payment option, the amount of any interest that is not paid will be added to the principal of loan.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Payment-option ARM is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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