Convertibility Clause
The provision in a convertible adjustable rate mortgage giving the borrower the option of changing to a fixed rate at specified times during the term of the mortgage.
More Real Estate Definitons
ReinsuranceX-BracingOpen HousingTrustee’s deedMillworkDefective TitleQuasi ContractFlashingBuffer zoneUnity Of TimeQuestion Of LawBump ClauseGroundwaterCredit ReportYard LumberHeaterEscrow AnalysisEconomic RentAdministratorWattBasis PointConcessionJoint TenantsHopperJudicial SaleQualified FeeJoint EstateValley RoofLine Of CreditWrought IronRecorderMaster PlanAcreValley RafterProspectWorkinghouseValuationUtilityCruiseUse ValueBarrelQuiet Enjoyment