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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.


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 ?
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.
I remember, signora," said Giovanni, "that you once promised to reward me with one of these living gems for the bouquet which I had the happy boldness to fling to your feet.
Pluck one of those precious gems from thy sister shrub and bid thy bridegroom wear it in his bosom.
An emerald-tracking procedure that measures the ratio of two oxygen isotopes in a microscopic sample from a gem has been available for a few years (SN: 3/11/00, p.
Besides cooperating on desert digs, gem hobbyists work together on the exhibit of shimmering gems and minerals at the fair.
3,751 for the GEM e2, GEM e4, GEM e6 (12-volt battery system) and GEM eS
There are some inherent problems with any technique that depends on a single characteristic to link a gem to its source, says geologist Eva Anckar of the University of Cape Town in South Africa.
Robinette, President and Chief Executive Officer of Ply Gem, said, "This action was difficult in that it impacts a number of our employees, however, today's competitive climate demands the most efficient operating structure and this decision to consolidate operations will improve overall performance and is in keeping with Ply Gem's commitment to its customers and the financial community.
Post, curator of the National Gem and Mineral Collection at the Smithsonian's National Museum of Natural History in Washington, D.