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Meaning of shared-appreciation mortgage

shared'-ap•pre•ci•a'tion mort"gage

Pronunciation: (shârd'u-prē"shē-ā'shun), [key]
  1. a type of mortgage that carries a smaller down payment or lower interest rate than usual in return for the lender's sharing in the appreciation of the property at some future date, as at the time of its sale. Abbr.: SAM
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.