Betty Goyens, Your Malibu Agent



2022-01-14T00:10:41-05:00January 14, 2022||

A promise by one party to pay a debt or perform an obligation contracted by another if the original party fails to pay or perform according to a contract.

Growing-Equity Mortgage (GEM)

2022-01-14T00:10:30-05:00January 14, 2022||

A fixed-rate mortgage that provides scheduled payment increases over an established period of time. The increased amount of the monthly payment is applied directly toward reducing the remaining balance of the mortgage.

Graduated-Payment Mortgage (GPM)

2022-01-14T00:10:13-05:00January 14, 2022||

A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.

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