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 mortgage.
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.
