Baloon Mortgage Note
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A balloon payment mortgage is a mortgage which does not fully amortize over the term of the note, thus leaving a balance due at maturity.
The final payment is called a balloon payment because of its large size. Balloon payment mortgages are more common in commercial real estate than in residential real estate.
The final payment is called a balloon payment because of its large size. Balloon payment mortgages are more common in commercial real estate than in residential real estate.
This Balloon Mortage Note form can be used to register the final payment in a legal way.
DISCLAIMER
Nothing on this site shall be considered legal advice and no attorney-client relationship is established.
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