shared equity mortgage
A mortgage in which the lender gets a share of the equity of the home in exchange for providing a portion of the down payment. When the property is later sold, the lender is entitled to a portion of the proceeds.
Category: Real Estate & Rental Property

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Shared Equity Mortgage — Joint ownership of real estate by both lenders and property dwellers. When the property is eventually sold, the owners share in the proceeds, or equity. In the meantime the property occupants benefit from interest and property tax write offs.… …   Investment dictionary

  • Shared appreciation mortgage — A shared appreciation mortgage or SAM is a mortgage in which the lender agrees as part of the loan to accept some or all payment in the form of a share of the increase in value (the appreciation) of the property. In the US A shared appreciation… …   Wikipedia

  • Shared Equity Finance Agreements — When two parties purchase a primary residence because one party is unable to purchase the residence on its own. In a shared equity finance agreement, the financially stronger party acts as the investing owner, while the other party is the… …   Investment dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets …   Wikipedia

  • Equity release — is a means of retaining use of your house or other object which has capital value, while also obtaining a steady stream of income, using the value of the house.The catch is that you have to re pay the income provider at a later stage, usually… …   Wikipedia

  • Adjustable-rate mortgage — A variable rate mortgage, adjustable rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit… …   Wikipedia

  • Housing equity partnership — A housing equity partnership (HEP), more commonly know as “Equity Sharing.”Equity sharing has been around for some time now and has been put on the shelves in recent years given the loose financing programs. These partnerships were championed by… …   Wikipedia

  • Flexible mortgage — The term flexible mortgage refers to a residential mortgage loan that offers flexibility in the requirements to make monthly repayments. The flexible mortgage first appeared in Australia in the early 1990s (hence the US term Australian mortgage) …   Wikipedia

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