Definitions for "balloon payment"
A large, lump-sum payment scheduled at the end of a series of considerably smaller...
A loan where the payments don't pay off the principal in full by the end of the term. When the loan term expires (usually after 5-7 years), the borrower must pay a balloon payment for the remaining amount or refinance. Balloon loans sometimes include convertible options that allow the remaining amount to automatically be transferred into a long-term mortgage. (See Convertible ARM)
Amount of loan principal remaining unamortized and outstanding at the end of the mortgage term.
Keywords:  ballot
Keywords:  baltimore, plan
Baltimore Plan
Keywords:  note, mortgage
Mortgage Note