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October 03, 2006
Balloon Payment
A balloon payment mortgage is a fixed-rate non amortized mortgage with a large final payment. Typically, the mortgage matures from five to seven year term. At the end of the term, the borrower pays final payment which is much larger than the regular mortgage payment. Hence, the final payment represents the
From Balloon Payment
Posted by Peter at October 3, 2006 10:57 AM
