shared appreciation mortgage (SAM) definition

shared appreciation mortgage (SAM)

Mortgage, arranged (written) usually at below-market interest rates, entitling the lender (mortgagee) a portion of increase in the value of the mortgaged property within a specified period. At the end of the period, the borrower (mortgagor) must either sell the property or pay the mortgagee its share of the appreciation (if any) in the value of the property. Also called shared equity loan.

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