balloon payment

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balloon payment,

n a final payment larger than the preceding payments when a debt is not fully amortized.
References in periodicals archive ?
If, when the vehicle is sold, it sells for more than the predicted value (the balloon payment figure) you will receive a rebate.
The new rule will allow loans to be rescheduled with balloon payments under certain circumstances, provided a current appraisal is performed.
On resuming repayment, a lender may permit the participant to choose to increase the amount of the payments, or to make payments at the previous rate, with a balloon payment due at the loan's end.
8%) is secured by a retail property in Gresham, OR and was transferred to the special servicer after the borrower failed to make its balloon payment in August 2006.
The mortgage pools consist of fixed-rate, second lien, fully amortizing and balloon payment mortgage loans.
What the residual insurance policy does is guarantee to the lender a specific dollar amount for an asset at the termination of a lease or when the balloon payment on a mortgage is due.
The mortgage pool consists of conventional, fixed-rate, balloon payment, five- and seven-year mortgage loans (49% and 51%, respectively) secured by one- to four-family residential properties located primarily in California (54%).
99%), second lien, fully amortizing and balloon payment mortgage loans with a cut-off date pool balance of $568,612,761.
For example, a consumer may not understand that a loan with affordable monthly payments will not amortize the principal or that the consumer may have to refinance a balloon payment at additional cost.
Unlike the typical five-year commercial mortgage with a balloon payment, the SBA encourages longer term business financing.
NASDAQ: BERS) announced today that it had refinanced the $1,162,000 balloon payment on its building mortgage through First Fidelity Bank, NA, Lawrenceville, New Jersey.