government
mortgage
A mortgage that is insured by the Federal Housing
Administration (FHA) or guaranteed by the Department of Veterans
Affairs (VA) or the Rural Housing Service (RHS). Contrast with
conventional mortage.
Government
National Mortgage Association
A government-owned corporation within the U.S. Department
of Housing and Urban Development (HUD). Created by
Congress on September 1, 1968, GNMA assumed
responsibility for the special assistance loan program
formerly administered by Fannie Mae. Popularly known as
Ginnie Mae.
grantee
The person to whom an interest in real property is
conveyed.
grantor
The person conveying an interest in real property.
ground rent
The amount of money that is paid for the use of land when
title to a property is held as a leasehold estate rather
than as a fee simple estate.
group home
A single-family residential structure designed or adapted
for occupancy by unrelated developmentally disabled
persons. The structure provides long-term housing and support
services that are residential in nature.
growing-equity
mortgage (GEM)
A fixed-rate mortgage that provides scheduled payment
increases over an established period of time, with the
increased amount of the monthly payment applied directly
toward reducing the remaining balance of the mortgage.
guarantee mortgage
A mortgage that is guaranteed by a third party.
guaranteed loan
Also known as a government mortgage.
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