Growing-Equity Mortgage (GEM) at Real Estate Glossary
What is it? A loan in which the monthly payments increase annually, with the increased amount being used to reduce directly the principal balance outstanding and thus shorten the overall term of the loan.Real Estate Definition Added By: Matthew
The Growing-Equity Mortgage (GEM) definition has been viewed 313 Time(s)!
Send To Friends!
If you'd like to send the Growing-Equity Mortgage (GEM) definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Growing-Equity Mortgage (GEM). If you need any more information on this term, please don't hesitate to contact us.
Other Similar Real Estate Terms:
Real Estate Term Grandfather Clause is An expression that conveys the concept that something that was once permissible continues to be so, despite changes in the law.Real Estate Term Patio is An interior courtyard or a paved backyard area.
Real Estate Term Beneficiary is The lender who makes a loan, also called a mortgagee. The person borrowing money is the mortgagor.
Real Estate Term Uniform Commercial Code is A codification of commercial law, adopted in most states, that attempts to make uniform all laws relating to commercial transactions, including chattel mortgages and bulk transfers. Security interests in chattels are created by an instrument known as a se
Real Estate Term Aggrieved Party is One whose legal right is invaded by an act(s) of another. The word aggrieved refers to a substantial grievance, a denial of some personal or property right, or the imposition upon a party of a burden or obligation.