Housing Term of the Day: “LIBOR ARM”

A “LIBOR ARM” sounds vaguely related to a frozen shoulder. It’s not. Pronounced “Lee′-bore,” it stands for the “London Inter-bank Offered Rate,” a widely used benchmark (or peg) for setting mortgage rates and other debt. Meanwhile, “ARM” stands for “Adjustable Rate Mortgage.” Definition, Please What does all that mean in practice? A homeowner with a...
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“Permanent Records” — High School & Real Estate

Only 2 Ways to Wipe the Slate Clean on an Old(er) Listing Once upon a time, misbehaving kids in high school were told that, if they didn’t shape up, their misdeeds “would go on their ‘permanent record.'” Adults know that there’s no such thing (unless you count credit scores). But, there’s something very much like a...
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