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 ?
Under the terms of the agreement, NRD acquired all of Ruby Tuesday's common stock for USD 2.
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Ruby Moonlight is a dark, realistic, descriptive story, with themes of murder, jealousy, trust and love.
It is said that Ruby and Sharif, despite their separation, are always in contact and that Ruby considers Sharif to be a very talented director.
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.