Jeep

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Jeep

Graduated Payment Mortgage

A method of amortizing a mortgage such that payments are initially lower than they would be for a comparable mortgage with flat payments, and gradually increase over three, five, or seven years. When payments reach their full amount, they are usually higher than they would have been had the mortgage holder made flat payments over the life of the mortgage. This is because the difference between the initial payments and what the initial payments would have been in a flat payment scheme is added to the principal. A mortgage holder may opt for a GPM if he/she does not have the cash flow for the full mortgage when he/she buys the property, but expects to have it in the future. This entails risk for both the borrower and the lender as those cash flows may or may not be there when the time comes. See also: ARM.
References in periodicals archive ?
She said that the departure of jeeps for Punjab to take part in the race was a good sign and it would send a positive message to the outer world that peace had been restored and tourism and sports activities were being organised in every nook and corner of the province.
Today, there are Jeep plants in Toledo; Melfi, Italy; and Toluca de Lerdo, home of FCAs Toluca assembly plant, which once was operated by Chrysler.
Magaganda pa yung jeep namin kaya lang gusto nila modernisasyon eh paano naman kami, lubog na kami sa utang,' he said.
In the summer of 2014, San Diego County was hit with a rash of Jeep Wrangler thefts.
Robert Walker, chief designer, for Jeep Interiors, says that working on the interior of the Cherokee allowed them to work with a "clean slate"--but somehow that slate had huge Jeep influences.
The very first Jeep was created in 1940 by the American Bantam Car Co.
Bong made a technical presentation on the various product improvements done and new products developed since the last five months that Rommel has joined the various jeep fora.
In deep snow areas such as ours, before snowmobiles came on the scene, Army surplus jeeps and civilian Jeeps were invaluable because rural roads were impossible to keep open.
Fiat SpA (NYSE: FIA) (ISE: IT0001976403), an Italy-based automaker, is planning to re-launch production of Jeep vehicles in China.
And as he celebrated his 86th birthday yesterday, veteran Donald Probert rolled back the years with a surprise trip in a 1942 Willys Jeep.
Majority of the participating jeeps belonged to the World War-II era, with the oldest Jeep model participating was of 1942 of Ford.