Convertibility Clause

Concept of Convertibility Clause in the context of Real Property

A short definition of 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.

Concept of Convertibility Clause in the context of Real Property

A short definition of 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.