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Glossary > G > "GEMs (growing-equity mortgages)" Definition

GEMs (growing-equity mortgages)

Mortgages in which annual increases in monthly payments are used to reduce outstanding principal and to shorten the term of the loan.

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GEMs (growing-equity mortgages) - Mortgages in which annual increases in monthly payments are used to reduce outstanding principal and to shorten the term of the loan.

GEMs (growing-equity mortgages) : mortgages in which annual increases in monthly payments are used to reduce outstanding principal and to shorten the term of the loan.