单词 | price level adjusted mortgage (PLAM) |
释义 | price level adjusted mortgage (PLAM)Definition Loan arrangement where the interest rate remains fixed for the term of the loan, but the amount of monthly installment is changed by adjusting the principal balance according to a price index (such as the consumer price index). Since the installment amount changes over time, it may necessitate additional installments or a balloon payment at the end of the original maturity date. |
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