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 ?
The history of the gems of Sri Lanka can be traced back over a three millennia.
The 4lb Gem of Tanzania was reportedly worth pounds 11m when it was listed as an asset of Wrekin Construction - the firm given the pounds 4m Square contract.
Queer Mythologies The Original Stageplays of Pam Gems is a significant contribution to Pam Gems' prolific published and unpublished writing which fills a void in the critical acclaim of Gems' dramaturgy, by being the first detailed critical analysis of her work until now.
The hunt for gems and precious metals is dirty, dangerous work.
Be sure to include information about the chemical properties of each of these gems.
"We are pleased to be a partner with the City of New York to get zero emission GEMs in use around the city," said Larry Oswald, CEO of Global Electric MotorCars, the division of DaimlerChrysler that produces GEMs.
Once an emerald leaves its country of origin and circulates around the world, the gem's provenance becomes murky.
A 500-kilogram bulk sample taken by the company revealed several gem and near-gem emeralds.
Mr Dopson said about four pupils had been told not to wear tooth gems in the past.
In its windows and cases he eye-popping gems and crystals that prompt sighs and aaahhhs.
In the section just described no mention is made, for example, of the two major studies on antique gems in the Museo Archeologico in Florence (Giuliano, 1989; Tondo, 1990).