BALLOON MORTGAGE RETOTD Episode 00178
Podcast: Play in new window | Download | Embed
Subscribe: Android |
A mortgage loan in which the monthly payments are not large enough to repay the loan by the end of the term. So at the end of the term, the remaining balance comes due in a single large payment. For example, a loan may be amortized as if it would be paid over a thirty year period, but requires that at the end of the tenth year the entire remaining balance must be paid.