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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Morrison represents a range of profound social problems resulting from the hegemony of this patriarchal concept of manhood in Ruby; the "losses" that Dovey refers to include the gradual erosion of all of the positive traits that had enabled the original success of this community.
Warnings are delivered by spectral auras and there are revelations that Ruby isn't sure she can handle.
Etienne developed Ruby Love's revolutionary technology by testing hundreds of prototypes and tweaking designs, ultimately creating a smart, intuitive design that uses a built-in absorbent liner that is perfectly angled to collect flow immediately, ensuring stain-free comfort.
As the song goes - goodbye Ruby Tuesday, who could hang a name on you?
Ruby, of course, shot to fame after reaching the final of last year's Great British Bake Off where her beautiful bakes (and face) won the hearts of the nation.
Ruby has been at the centre of family court proceedings in Melbourne, Australia, involving her mother and father, the judge said.
After seeing paralympian Jonnie Peacock on Strictly Come Dancing, Ruby was so inspired by what he could do with a prosthetic leg that she asked her mum and dad to investigate the possibility of her having an amputation.
A Ruby Palabrica is listed among 600 people who the Department of Justice identified as members of the Communist Party of the Philippines and the New People's Army.
Under the terms of the agreement, NRD acquired all of Ruby Tuesday's common stock for USD 2.40 per share in cash and will assume or retire all debt obligations for a total enterprise value of approximately USD 335m, excluding transaction expense.
Mozambican ruby deposits are much older than Burmese ruby deposits (approximately 60 million years) which, prior to the discovery of Mozambican ruby deposits, had been the major supplier of rubies for centuries.
Ruby chocolate is made from the ruby cocoa bean and has an intense taste and characteristic reddish colour.