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.
