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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 ?
Gold, diamonds, pearls, and all manner of precious stones will be your daughter's ordinary playthings.
Neither was all the dazzle of the precious stones, which flamed with their own light, worth one gleam of natural sunshine; nor could the most brilliant of the many-colored gems, which Proserpina had for playthings, vie with the simple beauty of the flowers she used to gather.
But, then, you must consider, my dear child, that this vast palace is apt to be gloomy (although the precious stones certainly shine very bright), and that I am not of the most cheerful disposition, and that therefore it was a natural thing enough to seek for the society of some merrier creature than myself.
I understand, it was frittered away in satin, precious stones, velvet, and feathers of all sorts and colors.
Between the arches, the ceiling was set solid about the radium bulbs with precious stones whose scintillant fire and color and beauty filled the whole apartment.
He further added that if the government gives focus to improve the precious stone business and install modern techniques and equipment in Khyber Pakhtunkhwa and Fata then our exports in stone business will be double and it will boost the economy of the country.
Considering this is one of several multi-million dollar contracts available to Britannia's commodities' trading division, precious stone transactions are expected to add considerable value to the Company's 2015 earnings.
A decline in the number of foreign tourists and extraordinary engagements of internationals in the country had also taken a toll on the precious stone market, explained the head of Kabul Engravers' Union.
On display at the Jacob's are most beautiful treasure collections of flawless white diamonds as well as some other varying colours of the precious stone, which are rare to come by.
He said there are specialized companies in the UAE that give international certificates for every precious stone.
This new market may also turn into an important global center for the jewellery and precious stone sector.
Last night the Lord Shiva appeared to me in a dream," said the villager, "and told me that if I went to the outskirts of the village at dusk, I should find a sannyasi who would give me a precious stone that would make me rich forever.