ADJUSTABLE RATE MORTGAGE (ARM) is A mortgage that features predetermined adjustments of the interest rate at regular intervals. An ARM's interest rate is tied to an index outside the control of the lender.
INITIATE is to set going by taking the first step, e.g., initiate contract negotiations.
CHARGEBACK, in the credit industry, occurs when a credit card processor 'charges back' to the merchant the cost of returned items or incorrect orders that the customer claims were made to his or her credit card.
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