Gem

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Related to gems: JEMS

GEM (growing equity mortgage)

Mortgage in which annual increases in monthly payments are used to reduce outstanding principal and to shorten the term of the loan.

Gem

In numismatics, a high quality coin. These coins may be valuable as collector's items, though they are illiquid assets. It may also refer to the beauty of the coin regardless of quality.

growing equity mortgage (GEM)

A home loan arrangement in which the payments are increased each year by a specific amount,with the additional money credited to additional principal reduction. As a result, the loan is paid in full earlier than the normal amortization period.The FHA-
insured GEM program is called a 245(a) loan.

References in classic literature ?
The reaction of joy was as passionate as his grief had been, and he hugged his recovered gems to his bosom.
It must have been he who wore those boots and retained the missing gems.
Thou art not worthy to behold, even from afar off, the lustre of this most precious gem that ever was concocted in the laboratory of Nature.
But, verily," said Master Ichabod Pigsnort, "for mine own part I object to the making of these counterfeits, as being calculated to reduce the marketable value of the true gem.
Wherefore, I am minded to put the Great Carbuncle on shipboard, and voyage with it to England, France, Spain, Italy, or into Heathendom, if Providence should send me thither, and, in a word, dispose of the gem to the best bidder among the potentates of the earth, that he may place it among his crown jewels.
Yet, might I presume to say so, the gem would make a rare sepulchral lamp, and would display the glories of your lordship's progenitors more truly in the ancestral vault than in the castle hall.
They threw their arms around each other, and trembled at their own success; for, as the legends of this wondrous gem rushed thick upon their memory, they felt themselves marked out by fate--and the consciousness was fearful.
Yet, as they left the shore, till then untrodden, of the spirit's lake, they threw a farewell glance towards the cliff, and beheld the vapors gathering in dense volumes, through which the gem burned duskily.
And, for all these purposes, the gem itself could not have answered better than the granite.
There is also a tradition that, as the youthful pair departed, the gem was loosened from the forehead of the cliff, and fell into the enchanted lake, and that, at noontide, the Seeker's form may still be seen to bend over its quenchless gleam.
In the ensuing years of his police service, Bagai relied on Gems & Gemology, GIA's quarterly professional journal, to remain current on gemological topics and research.
Anglo Swiss is targeting southeastern British Columbia for its gem potential as its current discoveries of gemstone (sapphire, iolite, garnet) and a large flake (carbon) graphite showing confirm that this area has been long over looked for precious gem deposits.