Growing-Equity Mortgage — A fixed rate mortgage on which the monthly payments increase over time according to a set schedule. The interest rate on the loan does not change, and there is never any negative amortization. In other words, the first payment is a fully… … Investment dictionary
shared equity mortgage — A mortgage in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the property is later sold, the lender is entitled to a portion of the proceeds. Category: Real Estate & Rental… … Law dictionary
growing equity mortgage — ( GEM) mortgage in which annual increases in monthly payments are used to reduce outstanding principal and to shorten the term of the loan. Bloomberg Financial Dictionary mortgage with a fixed interest rate and payments that increase throughout… … Financial and business terms
growing-equity mortgage — /groh ing ek wi tee/ a type of mortgage under which the interest rate is fixed but monthly payments increase annually to include more of the principal, so that the mortgage can be paid off in about half the conventional term. * * * … Universalium
growing-equity mortgage — /groh ing ek wi tee/ a type of mortgage under which the interest rate is fixed but monthly payments increase annually to include more of the principal, so that the mortgage can be paid off in about half the conventional term … Useful english dictionary
Shared Equity Mortgage — Joint ownership of real estate by both lenders and property dwellers. When the property is eventually sold, the owners share in the proceeds, or equity. In the meantime the property occupants benefit from interest and property tax write offs.… … Investment dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets … Wikipedia
Equity release — is a means of retaining use of your house or other object which has capital value, while also obtaining a steady stream of income, using the value of the house.The catch is that you have to re pay the income provider at a later stage, usually… … Wikipedia
Equity stripping — Equity stripping, also known as equity skimming or foreclosure rescue, is any of various predatory real estate practices aimed at vulnerable, often low income, homeowners facing foreclosure in the United States. Often considered a form of… … Wikipedia