Gem

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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 periodicals archive ?
Timed with the launch of the product, Ruby Rockets has created an e-commerce website at RubyRockets.
The first packets of the firm's new Ruby Murray Curry Rough Cuts left Tayto Castle for shop shelves this week.
Through the positive and expectant attitude of the staff, I have learnt that there is no limit to what she can achieve and that Ruby enjoys the challenge of achieving the next stage of independence.
According to the London based Elaph, sources close to the singer revealed there is a strong possibility that Ruby will again work with Sharif Sabri, after the two split.
And now that Ruby can jet about on her trike, she has gained confidence in herself.
Ruby called the toll free number and spoke to a CFH Specialist.
Zoo management needs to show it really does want to do what is best for the animals by allowing Ruby to retire and sending her to sanctuary.
Lucas Carlson & Leonard Richardson's RUBY COOKBOOK: RECIPES FOR OBJECT-ORIENTED SCRIPTING (0596523696, $49.
Ruby Miller, a year nine pupil at Llantwit Major School, won the annual 5k Race for Life run.
RUBY WAX claims she is no longer allowed on TV because she is too old.
Almost every family in her mythical Ruby is controlled by a powerful father figure, and these men also possess hegemonic authority in the public sphere.
Newcomers will find a lot to like about Christine Havrilla's Ruby Red, the Pennsylvania-based singer-songwriter's fifth CD.