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renegotiable-rate mortgage

[ ree-ni-goh-shee-uh-buhl-reyt, -shuh-buhl- ]

noun

  1. a type of home mortgage for which monthly payments stay constant for a term, usually of three to five years, and the interest rate is renegotiated at the end of every such term until the loan is paid off. : RRM


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renegerenegotiate