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G
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 Sept. 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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