exploding ARM
n.— «The man Bob Woodward called “Maestro” actually advised Americans to shun fixed-rate loans for adjustable-rate mortgages. Dubbed “exploding ARMs” to describe the impact of upwardly adjusting interest rates on monthly payments, the loans are a staple of subprime mortgages.» —“Who’s to blame for foreclosure crisis?” by Pat Beall Palm Beach Post (Florida) Oct. 21, 2007. (source: Double-Tongued Dictionary)
Further reading
When there’s no evening meal planned at home, what do you call that scramble to cobble together your own dinner? Some people apply acronyms like YOYO — “you’re on your own” — or CORN, for “Clean Out your Refrigerator...
A librarian opens a book and finds a mysterious invitation scribbled on the back of a business card. Another discovers a child’s letter to the Tooth Fairy, tucked into a book decades ago. What stories are left untold by these forgotten...